January 11, 2018

POKO deals Brownsville theater for $53M

News Property News

Real Estate Weekly

Brooklyn investor Shulem Herman has paid $53 million for the former Pitkin movie theater in Brooklyn’s Brownsville neighborhood.

POKO partners sold the build after spending millions bringing it back to life and leasing it ot the Ascend Public Charter School.
TerraCRG’s Ofer Cohen, Dan Marks, Matt Cosentino, Fred Bijou and Eric Satanovsky brokered the sale of the property at 1501 Pitkin Avenue.

“1501 Pitkin Avenue is a true Brooklyn comeback story,” said Cosentino. “After many years of vacancy and neglect, the seller, POKO partners, brought life back to this majestic property by building an incredible education facility that serves almost 1,000 public school students.”

Read more here.