Real Estate Weekly
Image default
Deals & DealmakersFeatured

Parking boss acquires $40M Brooklyn office portfolio

Billy Lerner, the president and CEO of iPark, New York City’s second biggest private parking-garage operator, has acquired an 11-building portfolio of medical office buildings for $40 million.

Kassin Sabbagh Realty announced that Lerner acquired 9020-9024 5th Avenue (pictured top) 7601-7607 7th Avenue, 7115-7121 13th Avenue from Brooklyn-based radiologist Dr. Shahrok Abiri in a 1031 transaction.

The 61,400 s/f portfolio is comprised of three buildings, each of which consists of 3-4 separate buildings that were merged into one tax lot. Pro Health Care is the tenant in all three buildings.

Isaac Setton and Bunny Escava, of Kassin Sabbagh Realty, represented the buyer in the deal. Adam Rochlin of the Rochlin Organization, represented the seller.

Related posts

NJ medical hub attract two more tenants


$317 Million Financing Package Finalized  for Phase 1 of The Crossings at Brick Church Station Mixed-Use Project in East Orange, NJ 


$40M financing secured for industrial warehouse in central New Jersey