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Jax Daily Record Monday, Dec. 13, 202103:17 PM EST

The Brooklyn Riverside apartments sold for $78 million

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The one- and two-bedroom apartments traded for an average unit price of $251,612.
by: Dan Macdonald Staff Writer

A Boston real estate investment group acquired the 310-unit The Brooklyn Riverside apartments on Dec. 8 for $78 million.

Through BR Riverside DST, New York-based Bluerock Real Estate L.L.C. sold the community at 100 Magnolia St. to Eaton Vance Management REIG. 

Eaton Vance bought the property through BEL Brooklyn LLC.

The per-unit price was $251,612.

The Brooklyn Riverside is behind the Brooklyn Station shopping center anchored by The Fresh Market along Riverside Avenue.

Brian Moulder, managing director of Investment Sales at Walker & Dunlop, brokered the sale for the seller.

The apartments, built in 2015, comprise seven four-story buildings on 8.17 acres. The property’s 2021 taxable value is $52,859,200.

Pollack Shores Real Estate Group of Atlanta sold the apartments to Bluerock in June 2016 by for $57.97 million.

The community’s one- and two-bedroom units range in size from 664 to 1,293 square feet.

Amenities include a pool, fitness room, conference room and clubhouse with grills. 

 

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