March 2, 2017
Treetop Development paid $25 million for two apartment buildings located where the Crown Heights and Lefferts Gardens neighborhoods meet in Brooklyn.
Home prices are rising quickly in the area, which is just across Prospect Park from Brooklyn’s Park Slope neighborhood.
The six-story buildings, at 556-568 Lefferts Ave. and 570-582 Lefferts Ave., stand right next to each other with a total of 102 apartments. That works out to a price of about $245,000 per unit.
“These well-maintained buildings were highly sought after by a group of investors who recognized their future potential upside, and appreciated their spacious one- and two-bedroom apartments, which have layouts that can easily be upgraded and reconfigured,” said Matt Sparks, senior director and principal for Eastern Consolidated, which represented the seller, F&I Realty Corporation. Sparks also procured the buyer, Treetop Development
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