July 15, 2015

Adam Hess and Ofer Cohen score big in $37M sale of Park Slope rentals

RedSky Capital and Megalith Capital Management sold a pair of Park Slope rental buildings for $37 million, in one of the neighborhood’s priciest multifamily deals on a per-square-foot basis to date. Ofer Cohen and Adam Hess of TerraCRG represented RedSky in the deal.

“You don’t normally find multifamily sales of this scale in this area,” Hess said.

Hess also served as a broker on deals elsewhere in the neighborhood last year, including a four-story rental building at 857 Union Street sold for $842 per square foot, or $8.6 million, and a five-story rental building at 401 12th Street sold for $800 per square foot, or $5.8 million, records show.

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