DH property buys 3 BK buildings with Fruchthandlers, sells the rest of the properties to Icon Realty Management and Benchmark Real Estate Group.
The total sale price on EJ Realty’s eight-building package was $141.5 million, according to property records filed with the city Tuesday. EJ Realty is led by Efraim Lesser and Jeffrey Braun, father-in-law to Extell chief Gary Barnett. Hertz worked for Extell for 13 years before stepping down to start his own investment firm.
“This was the first deal I did in my new company,” Hertz told The Real Deal. “It was a complex deal. I had a very good relationship with the sellers.”
Hertz’s DH Property, along with the Fruchthandlers, bought three residential rental buildings from EJ Realty in Brooklyn at 130 East 18th Street, 625 Marlborough Road and 105-131 East 86th Street for $27 million. The company financed the purchase with a $19.7 million loan from Signature Bank, property records show.
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DH Property Holdings is a leading real estate development, investment and asset management firm focusing on complex industrial distribution warehouses in dense, urban-core areas.
