Major Acquisition to Transform East New York Housing
Camber Property Group has completed a nearly $1 billion acquisition of Linden Plaza, an 11-building, 1,527-unit multifamily complex in East New York, Brooklyn, as reported by Commercial Observer. The property was purchased from Linden Plaza Preservation, managed by RY Management, with the deal closing just before the new year. Rick Gropper, founding principal at Camber, called the transaction “historic” and one of the largest multifamily deals in New York City. “This transaction allows all stakeholders in a public-private partnership to make real improvements to benefit the residents’ quality of life,” Gropper said.
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