Brookhill Properties, founded and owned by Raphael Toledano, just acquired a 16-building, multifamily portfolio in the East Village. The walkup properties, purchased from the Tabak/Garfinkel family for $97 million, include 301 residential units and 15 retail tenants.
Earlier this year, Toledano and Brookhill Properties purchased four buildings in the East Village for $21 million. Last year, Toledano made his first purchase in the neighborhood on Second Avenue for $5 million. This most recent purchase solidifies Brookhill and Toledano as the largest landlord in the East Village.
“These properties are ideally situated to capitalize on the explosive growth of the East Village. The buildings are in a neighborhood that is highly-sought after by tenants who want to be in the heart of the action – and we are thrilled to reinforce our position as a leading landlord here,” Raphael Toledano, President of Brookhill Properties, said.
The full list of buildings acquired is:
- 27 St. Marks Place – 20 residential units; 2 commercial units
- 66 East 7th Street – 22 residential units; 2 commercial units
- 95 East 7th Street – 20 residential units
- 223 East 5th Street – 18 residential units
- 228 East 6th Street – 20 residential units; 2 commercial units
- 229 East 5th Street – 10 residential units
- 231 East 5th Street – 8 residential units; 2 commercial units
- 233 East 5th Street – 10 residential units
- 235 East 5th Street – 10 residential units
- 253 East 10th Street – 20 residential units; 1 commercial unit
- 323-325 East 12th Street – 37 residential units
- 327 East 12th Street – 22 residential units; 2 commercial units
- 329 East 12th Street – 24 residential units
- 334 East 9th Street – 20 residential units; 2 commercial units
- 510 East 12th Street – 20 residential units; 2 commercial units
- 514 East 12th Street – 20 residential units
Toledano, who at 25 is the youngest landlord in New York City with a portfolio of this size, and Brookhill Properties are focusing on this neighborhood because of its appeal to millennials (18-35 year-olds) and the significant potential for continued growth. Toledano is currently under contract to purchase an additional 11 buildings in the East Village, West Village and Murray Hill for $55 million.
“We are committed to being a force for good in the neighborhood and providing our tenants with high-quality apartments,” Toledano said. “Our company is not just a property owner, we are members of this East Village community and look forward to partnering with local groups to show our dedication.”
Toledano also recently purchased 125 W. 16th Street in Chelsea for $42 million.