Fetner-Led Group Acquires Brooklyn Apartment Building for $209.5 Million
Fetner-Led Group Acquires Brooklyn Apartment Building for $209.5 Million
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July 14, 2025 | New York City
In a significant deal highlighting continued investor confidence in New York City’s rental housing sector, a joint venture led by residential developer Fetner has acquired a new apartment property in Fort Greene, Brooklyn. The asset, located at 240 Willoughby Street, was purchased for $209.5 million.
The recently completed building is situated just east of downtown Brooklyn, a neighborhood experiencing strong demand and rising rents. Market data indicates that asking rents in the area have reached record highs, underscoring the property’s appeal and long-term investment potential.
This acquisition aligns with a broader trend of strategic purchases in high-demand urban markets, even as economic uncertainties persist. With strong fundamentals in the Brooklyn multifamily sector, this deal signals growing optimism among institutional investors and developers.
The joint venture includes Fetner and financial partners Farallon Capital Management and MCB Real Estate. Their combined expertise in residential development and investment management positions them well to capitalize on the current market dynamics.
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