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Deals & Dealmakers

Trinity Place to buy Park Slope apartment building for $81M

Trinity Place Holdings has agreed to acquire a 105-unit, 12-story apartment tower in Park Slope, Brooklyn for $81 million.

The Aufgang Architects-designed rental property, located at 237 11th Street near the Gowanus-Park Slope border, includes 6,264 s/f of retail space, part of which is occupied by Starbucks. All of the apartments in the property are market-rate.

The units in the building range from studios to three bedrooms. Prices start at $2,269 per month for a studio, according to listings from Citi Habitats. Amenities in the property include a fitness center, a rooftop deck and a tenant lounge.

Trinity Place is headed by former Forest City executive Matthew Messinger. The firm’s New York City portfolio includes 77 Greenwich Street in Lower Manhattan and The Berkley in Williamsburg.

The seller is a joint venture between Adam America, Slate Property Group and developer Naveh Schuster. The partners acquired the site for $20 million in 2014, according to property records. A previous report from Curbed said that a row of small wood-frame houses was demolished at the site in 2014. The transaction is expected to close in the first quarter of next year.






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