A joint venture between Madison Realty Capital and Steelpoint Property Group bought a 41, 000-square-foot residential building on Prospect Park in Park Slope from Jerome Fisher’s J Fisher Management, paying $28 million. The seven-story, 41-unit elevator building is located at 78 Prospect Park West, between 3rd and 4th streets. It was built in the 1920s, and largely consists of one- and two-bedroom apartments.
The partners plan to renovate as many units as possible and convert them to luxury rentals. Ten of the building’s units are currently vacant, according to a press release from the joint venture.
Jerome Fisher, the man behind the seller, 78 Prospect Park West LLC., owns a number of other properties in Brooklyn including 66-22 Fleet Street, 94-80 Ridge Boulevard and 599 4th Street, according to records. Aaron Mazor, Jonathan Butwin and Scott Dweck of Town Residential represented both the seller and the buyers in the deal.