.avif)
Successful Sale of BF Group Portfolio in Brooklyn
Bob Knakal and his team successfully closed the sale of the BF Group Portfolio, a collection of five multifamily properties across Brooklyn, for $35,000,000. The portfolio included a mix of elevator and walk-up buildings, spanning a total of 271,139 square feet and 240 units.
This transaction marked a significant moment in the Brooklyn multifamily market, with properties located in prime neighborhoods such as Brooklyn Heights, Bay Ridge, Midwood, and Prospect Lefferts Gardens.
Walk-Up Building Sales - For the complete list click here Walk Up Buildings
Sale Details
The BF Group Portfolio sale represented a well-executed transaction in Brooklyn’s competitive real estate market. The five-building portfolio featured a mix of pre-war and post-war structures, offering a combination of elevator-serviced and walk-up units, making it an attractive opportunity for long-term investment.
- Sale Price: $35,000,000
- Asset Class: Multifamily – Elevator & Walk-Up
- Total Units: 240
- Total Square Footage: 271,139 SF
- Price Per SF: $129.09
- Number of Buildings: 5
- Sale Date: March 6, 2007
- Neighborhoods: Brooklyn Heights, Bay Ridge, Midwood, Prospect Lefferts Gardens
Property Details
The BF Group Portfolio featured a diverse mix of properties, including both elevator and walk-up buildings. The buildings were well-maintained, with strong rental histories and excellent access to transportation and neighborhood amenities.
Portfolio Addresses:
- 136 Hicks Street, Brooklyn Heights – Elevator Building
- 252 74th Street, Bay Ridge – Elevator Building
- 30 Linden Boulevard, Prospect Lefferts Gardens – Walk-Up Building
- 545 85th Street, Bay Ridge – Walk-Up Building
- 822 Ocean Avenue, Midwood – Elevator Building
These properties benefited from their locations in well-established residential neighborhoods, with access to shopping corridors, public transit, and local dining and entertainment options.
Strategic Market Positioning
Bob Knakal’s team developed a targeted marketing strategy, emphasizing the portfolio’s stable rental income, value-add potential, and prime locations. By highlighting the mix of elevator and walk-up buildings, the team attracted multiple competitive offers.
Neighborhood Overview
- Brooklyn Heights – Historic brownstones, waterfront views, and a highly desirable residential community.
- Bay Ridge – Strong rental market with a mix of classic pre-war buildings and modern conveniences.
- Midwood – Established neighborhood with a blend of multifamily properties and vibrant commercial corridors.
- Prospect Lefferts Gardens – Rapidly growing area near Prospect Park with increasing investor interest.
Conclusion
The successful sale of the BF Group Portfolio showcased Bob Knakal’s ability to position a multifamily portfolio for maximum value. By leveraging strategic marketing and deep market knowledge, his team secured a competitive sale price and strong terms for the seller.
This transaction further reinforced the strength of Brooklyn’s multifamily market, highlighting the continued demand for well-located residential properties across the borough.
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
