Gluck’s 111 Kent Avenue sells for $56M
May 11, 2012
By: Guelda Voien
Laurence Gluck’s Stellar Management and Largo Investments have sold 111 Kent Avenue, a 62-unit luxury rental building in Williamsburg, for just under $56 million ...
... The sale marks the highest price per unit ever paid for a multi-family building in the borough, according to data from Real Capital Analytics.
... Stellar retained commercial brokerage Studley for the sale, with executive managing director Woody Heller representing the seller in a team with colleagues Will Silverman, Eric Negrin and Daniel Parker.
“For years northwestern Brooklyn has been a market of preference rather than necessity for tenants,” Heller said. “The same is now happening for institutional investors.” ...
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