Eight years ago a California firm bought a Williamsburg apartment building for about $900,000 per unit — the most ever paid for a multifamily building in Brooklyn. The market never caught up. Now the buyer, American Realty Advisors, a Glendale, Calif.-based institutional investor and manager, is moving on. It has sold the luxury rental building at 111 Kent Avenue for $10.7 million less than it paid. The company, which shelled out $56 million for the
source https://therealdeal.com/2020/08/27/american-realty-advisors-eats-10-7m-on-williamsburg-sale/
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