Bruce Ratner makes multifamily bet with $24M BK rental

Bruce Ratner, CEO of Forest City Ratner Companies, picked up a six-story Clinton Hill rental building for $24 million as a personal investment, sources told The Real Deal. The 38,000-square-foot elevator building at 105 Grand Avenue opened in 2012. Brooklyn investor Yoel Gruber and partners developed it, but Adam Verner’s Springhouse Partners bought it for $16 million that year and ultimately leased it up. Four years later, Springhouse sold it. Springhouse received a 421a tax … [more]

Source: Real Estate

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