The same week that Adam Gordon’s Wildflower sold a self storage facility it built in the South Bronx for $65 million, entities connected to Brookfield Asset Management plunked down a combined $90 million for three properties in Brooklyn, each of which generated a significant return for their respective sellers.
Brookfield Property Group bought a 67,000-square-foot self-storage building at 235 Park Avenue in Clinton Hill, Brooklyn, for $32 million. Maddd Equities , Joy Construction and Cayre Equities sold the four-story building, also known as 45 Clinton Avenue, which they bought in 2018 for about $27 million.
Meanwhile, Brookfield Property’s parent company, Brookfield Asset Management, bought a 105,000-square-foot storage building at 300 Sheffield Avenue in East New York, Brooklyn, for $31.4 million. An affiliate of Heitman Capital Management sold the property, which it bought in 2015 for $10.3 million.
Finally, Brookfield Property Group also bought a 79,000-square-foot self-storage building at 1654 Bushwick Avenue in Bushwick, Brooklyn, for $26.6 million. The seller was an affiliate of Cayre Equities, which bought the land on which the building now stands for $4.5 million in 2016.
