Brooklyn, NY – Coney Realty Group, owned by Orthodox Jewish philanthropist Peter Rebenwurzel, is set to close on a deal early next year to buy a Brooklyn package from Urban American Management for $236 million.
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The Real Deal (http://bit.ly/1EWBGmj) reports the package, once called the “Kings and Queens” portfolio, includes 1,434 total apartments across 14 properties in Brooklyn and a Staten Island garden apartment complex.
The two largest buildings included in the package are a 178-unit Midwood property in Brooklyn and a 176-unit complex in Staten Island’s Oakwood area.
The LeFrak Organization sold the properties to Urban American in 2007 for $251 million.
Information taken from The Real Deal
It’s Good to see a huge baal tzedoko like Reb Peter get the credit he deserves
Reb Peter is one of the biggest donors to Jewish causes almost always “beseser” anonymously
The yeshivos, chadorim, kolelim, gmachim and other wonderful causes he underwrites form the backbone of our society
It is so wonderful to see him add this portfolio to his growing assetr collection
He got a building that in 2014 for 236M that someone paid for it 251M in 2007, did he make a good deal or american urban made a bad deal?
housing crisis is solved !!!!
Mazel U’Brocha
He should enjoy Hatzlachah!
Wonderful man. He should be matzliach in this and continue his tzedoko work. Hashem should give him and his family health and wealth and nachas.