Harbor Group buys $117M Brooklyn apartment building

Harbor Group International, a privately-owned real estate investment and management firm, and investor Image Capital, purchased the newly built multifamily apartment building called The Frederick, located at 564-570 St. Johns Place in Crown Heights, Brooklyn. The developers, Toby Moskovitz and Michael Lichtenstein of Heritage Equity Partners, sold the development for $117 million.

Herrick, Feinstein LLP was the lead law firm for Harbor in the acquisition. Sheldon Chanales led the team, together with Kamilla Rodrigues and Jenny Schiller-Vaughn. Our land use group, specifically Mitchell Korbey and Jennifer Dickson, provided some limited zoning and 421-a advice.