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BEB Capital Acquires Ivy 30, Mixed-Use Multifamily Property in Kips Bay for $55 Million

BEB Capital (“BEB”), a leading investor and developer of industrial, office and multifamily assets throughout the East Coast, is proud to announce the acquisition of 312-316 East 30th Street (Ivy 30) in the Kips Bay neighborhood of Manhattan. The 56,750-square-foot mixed-use multifamily property was previously owned by A.D. Real Estate Investors and has been acquired by BEB Capital for $55 million.

“We have and will continue to be big believers in New York City, and we’re excited at the opportunity to grow our multifamily portfolio with the acquisitions of Ivy 30,” said Lee Brodsky, Chief Executive Officer of BEB Capital. “We’ve seen an evolution take place in the multifamily sector in Manhattan, providing an engine for growth in the industry last year, and we expect this robust growth to continue. From our perspective, we look for value-add opportunities where we can leverage our institutional expertise and experience to provide long-term value, and we’re looking forward to doing that with the acquisition of this property.”  

Ivy 30 was built in 1986 is located a half-mile away from Madison Square Park, Baruch College, and Bellevue South Park. The property is located near the 4 and 6 subway lines and a short walk from one of Manhattan’s major transportation hubs in Grand Central Terminal.

Lee Brodsky, Keyvan Ghaytanchi and Ben Fischer of BEB Capital oversaw the acquisition in-house. A.D. Real Estate Investors was represented by Andrew Natter and Harold Fuchs.

BEB Capital has decades of hands-on real estate management and investment experience and has been hyper-focused on strategic growth. In December 2021, the firm announced a programmatic joint venture with Rockpoint Group, a real estate private equity firm, that will target an investment pipeline of up to $1 billion of industrial assets in the Northeastern US, with a primary focus on Long Island, NY. In February, the firm announced its lending division, BEB Lending, achieved a key milestone surpassing $100 million in capital deployed in less than two years of operation. BEB’s finance platform was created to provide quick, and creative financing solutions for commercial real estate assets in primary and secondary markets across the US, with typical loan sizes ranging from $5 to $50 million. BEB Lending has set a goal of deploying an additional $150 million by year-end 2022.

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