Montgomery Street pays $17M to Joel Schwartz for 227-unit dev site in East New York

Montgomery Street Partners through the entity 2700 Atlantic Ground Lessor LLC paid $17 million to Joel Schwartz through the entity 2700 Atlantic LLC for the development site at 2700 Atlantic Avenue in East New York, Brooklyn.
The deal closed on September 1, 2021 and was recorded on September 14, 2021.
(340765602) Joel Schwartz filed plans for a 227-unit, 158,730 square-foot residential building R-2 on September 14, 2020.
The seller bought the property on May 30, 2018, for $11.5 million.
The signatory for Joel Schwartz was Joel Schwartz.

Montgomery Street Partners is located at the party 2 address.
Within a 400-foot radius of 2700 Atlantic Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a new building permit application filed on May 1, 2020 for a 68,960-square-foot S-1 building at 191 Vermont Street.

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