King and Queens Residential Portfolio

King and Queens Residential Portfolio

Location: Brooklyn, Queens and Staten Island, NY
Type: Multi-family  / Retail
Size: 2,105 residential apartment units, 4 commercial units and 511 parkeing spaces
Date of Investment: August 2007
Exit Date: N/A

RCG Longview formed a joint venture with a multifamily real estate investment and management company to acquire a portfolio of 22, rent-stabilized residential apartment buildings located in Brooklyn and Queens, as well as one garden apartment complex located in Staten Island, in New York.  The Portfolio consists of 2,105 residential apartment units, 4 commercial units, 511 parking spaces, combining for over 2.2MM square feet.  The business plan called for creating value by identifying inefficiencies and upgrading units as they become vacant.