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Pair of Astoria buildings picked up for $72 million

Montenegro

Montenegro

June 15, 2015 By Jackie Strawbridge

Two neighboring Hallets Cove apartment buildings were picked up by a Brooklyn-based company for a combined total of $72 million this month.

The properties – Astoria at Hallets Cove and the Montenegro of Astoria – sit blocks away from each other at 11-15 Broadway and 30-50 21 St., respectively.

The buyer is E&M Associates, according to a Real Deal report.

Related Companies, which sold the buildings, also purchased the two properties simultaneously in October 2013 from the Criterion Group for a combined $60 million, according to City documents.

A spokesperson for Related Companies declined to comment on the sale.

Astoria at Hallets Cove and the Montenegro of Astoria sit at a nucleus of planned development in Astoria, blocks from Hallets Point and Astoria Cove, where thousands of new apartments are slated to rise in the coming years.

E&M Associates could not be reached for comment.

 

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