Parkoff buys former Trump multifamily from Cammeby’s for $63M

The Parkoff Organization pays $63M to Cammeby’s International Group for rental properties in Brooklyn and Queens that were formerly owned by Robert Trump.
Cammeby’s purchased the three buildings for $30.7 million in 2004 from Robert Trump, Donald Trump’s brother. The contract date was June 12, 2020.

In the first of three transactions, the Parkoff Organization through the entity Belcrest Park Assets LLC paid Cammeby’s International Group’s Belcrest Apartments Del LLC $22.3 million for 162-15 Highland Avenue in Jamaica Hills. The deal closed on July 23, 2020, and was recorded on July 28, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 105 residential units. The property is 99,342 square feet. The parcel(s) have total development potential of 99,342 square feet.
The sale price per unit is $211,905.

Cammeby’s bought the building in 2004 for $9,068,063 from Robert Trump, Donald Trump’s brother.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $20,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, Parkoff Organization through the entity Chelsea Park Assets LLC paid Cammeby’s International Group+BK28:BM28’s Chelsea Apartments Del LLC $20.8 million for 8700 25th Avenue in Gravesend. The deal closed on July 23, 2020, and was recorded on July 28, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 125 residential units. The property is 120,870 square feet. The parcel(s) have total development potential of 120,870 square feet.
The sale price per unit is $166,000..

The contract date was June 12, 2020. Cammeby’s bought the building in 2004 for $11,586,969 from Robert Trump, Donald Trump’s brother.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $20,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the third, Parkoff Organization through the entity Fiesta Park Assets LLC paid Cammeby’s International Group+BK28:BM28’s Fiesta Apartments Del LLC $20.0 million for 8635 21st Avenue in Bath Beach. The deal closed on July 23, 2020, and was recorded on July 28, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 120 residential units. The property is 109,640 square feet. The parcel(s) have total development potential of 109,640 square feet.
The sale price per unit is $166,667..

The contract date was June 12, 2020. Cammeby’s bought the building in 2004 for $10.08 million from Robert Trump, Donald Trump’s brother.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link