Acquisition · Crown Heights
409 Eastern Parkway trades for $109M
Toronto-based GO Residential REIT has acquired a 186-unit Crown Heights rental building with three ground-floor retail units, taking an 81% stake and lifting its portfolio to 2,731 units.
- Amount
- $109M
- Type
- Acquisition
- Date
- Jul. 2026
409 Eastern Parkway, Brooklyn, NY
Recorded in NYC property records.
- Buyer
- GO 409 LLC
- Seller
- Bedford Joint Venture LLC
- Seller
- FBE Bedford LLC
- Seller
- MP 1525 Bedford LLC
- Buyer: GO Residential REIT, a Toronto-based investor in NYC apartments, per Bisnow
- Property: 186 apartments plus three retail units at its base
- Tax: 421-a exemption in effect since 2020, expiring in 2056
- Stake: the deal gives the REIT an 81% stake, per Bisnow
- Portfolio: GO Residential reaches 2,731 residential units
Overview
GO Residential REIT has bought 409 Eastern Parkway in Crown Heights for $109 million, according to Bisnow. City records show a deed document dated July 1, 2026 and recorded July 20, 2026 for the property, with GO 409 LLC as the grantee.
The building is a 186-unit rental apartment property with three retail units at its base, per Bisnow. It has a 421-a tax exemption that took effect in 2020 and expires in 2056.
Bisnow reports the sellers were FBE Ltd., Adam America Real Estate and Zev Marmurstein. The deal gives the REIT an 81% stake in the property, according to Bisnow. The Toronto-based buyer invests exclusively in NYC apartments, and the purchase brings its portfolio to 2,731 residential units, Bisnow reports. CBRE represented the seller FBE, per Bisnow.
The purchase expands a Toronto-based REIT that invests only in New York City apartments, bringing its portfolio to 2,731 units. The building's 421-a exemption runs through 2056.
Parties Involved 10 recorded
Basis
Listed as Party 2 (grantee) on the recorded ACRIS deed.
Basis
Listed as Party 1 (grantor) on the recorded ACRIS deed.
Basis
Listed as Party 1 (grantor) on the recorded ACRIS deed.
Basis
Listed as Party 1 (grantor) on the recorded ACRIS deed.
Basis
Listed as Party 1 (grantor) on the recorded ACRIS deed.
Basis
Listed as Party 1 (grantor) on the recorded ACRIS deed. Bisnow names it among the sellers.
Basis
Bisnow: GO Residential REIT has added a Crown Heights apartment building.
Basis
Bisnow names FBE Ltd. among the sellers.
Basis
Bisnow names him among the sellers.
Basis
Bisnow lists CBRE brokers as representing FBE.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Document Detail: Deed 2026071600912002 — NYC Department of Finance (ACRIS)
- GO Residential REIT Acquires Brooklyn Apartment Building For $109M — Bisnow