NEW YORK CITY—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.
Harbor Buys $117M Multifamily Property in Crown Heights, Brooklyn
About HGI
Harbor Group International (HGI) is a leading global real estate investment and management firm. With $20 billion1 in real estate investment properties, the firm invests in and manages diversified property portfolios including office, retail, and multifamily properties. With over 39 years of experience in the industry and approximately 1,600 employees worldwide, HGI continues to look for real estate investment opportunities.
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Harbor Group International controls $20 billion1 in real estate investments and is constantly exploring real estate investment opportunities in the worldwide market.
Harbor Group International, LLC provides real estate management and real estate investment services and is not affiliated with Harbour Group Industries, Inc. (whose web site may be found at www.HarbourGroup.com), which offers investment services in connection with the acquisition, development and operation of industrial and manufacturing companies.
1Total capitalized value of underlying assets of $20 billion includes direct real estate and private funds as of 12/31/2024. AUM represents the total capitalized value of underlying assets, which includes direct and indirect real estate and real estate related investments, and the AUM of HGI’s affiliate, HGI Capital Management, LLC. AUM includes pending transactions that HGI expects to enter into. Such transactions may or may not be entered into, and even if entered into, such transactions may not close.
2Multifamily units includes multifamily preferred equity investments.
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