{"id":85800,"date":"2025-12-31T19:07:08","date_gmt":"2025-12-31T19:07:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/85800\/"},"modified":"2025-12-31T19:07:08","modified_gmt":"2025-12-31T19:07:08","slug":"hubb-nyc-buys-599-baltic-street-in-brooklyn-for-40m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/85800\/","title":{"rendered":"Hubb NYC Buys 599 Baltic Street in Brooklyn for $40M \u2013 Commercial Observer"},"content":{"rendered":"<p>Multifamily owner and operator <a href=\"https:\/\/commercialobserver.com\/company\/adam-america\/\" title=\"Adam America\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Adam America<\/a> has sold a 70-unit residential building at 599 Baltic Street in Gowanus, Brooklyn, according to <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/a836-acris.nyc.gov\/DS\/DocumentSearch\/DocumentDetail?doc_id=2025122900873001\">property records<\/a> made public Wednesday.<\/p>\n<p>John McCarthy\u2019s <a href=\"https:\/\/commercialobserver.com\/company\/hubb-nyc-properties\/\" title=\"Hubb NYC Properties\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">Hubb NYC Properties<\/a> purchased the 6-year-old, nine-story apartment building for $40 million from the original development firm founded by Omri Sachs.<\/p>\n<p>SEE ALSO: <a href=\"https:\/\/commercialobserver.com\/2025\/12\/wells-fargo-socal-office-loan\/\" rel=\"nofollow noopener\" target=\"_blank\">Wells Fargo Provides $57M Acquisition Loan Toward SoCal Office Campus Buy<\/a><\/p>\n<p>Hubb NYC secured a $29.7 million loan through <a href=\"https:\/\/commercialobserver.com\/company\/jll\/\" title=\"JLL\" class=\"company-link\" rel=\"nofollow noopener\" target=\"_blank\">JLL<\/a> Real Estate Capital for the purchase, according to property records.<\/p>\n<p>Some additional units in the building may be condominiums, with <a target=\"_blank\" rel=\"noopener nofollow\" href=\"https:\/\/www.zillow.com\/homedetails\/599-Baltic-St-Brooklyn-NY-11217\/142795652_zpid\/\">a recent $10.8 million sale listed on Zillow<\/a> for a 51,212-square-foot unit.<\/p>\n<p>The buyer, the seller and JLL did not immediately respond to\u00a0 requests for comment.<\/p>\n<p>Adam America owns multifamily properties across New York, Connecticut, Florida and Texas, but mostly in Brooklyn.<\/p>\n<p>News of the sale comes after another recent apartment building sale in nearby Boerum Hill. In July 2024, an entity tied to Ben-Josef Group Holdings <a href=\"https:\/\/commercialobserver.com\/2024\/07\/abraham-posner-sale-ben-josef-group-82-fourth-avenue-brooklyn\/\" rel=\"nofollow noopener\" target=\"_blank\">bought the 29-unit 82 Fourth Avenue<\/a> for $20 million.<\/p>\n<p>Mark Hallum can be reached at <a href=\"https:\/\/commercialobserver.com\/2025\/12\/hubb-nyc-buys-599-baltic-street-40m\/mailto:mhallum@commercialobserver.com\" rel=\"nofollow noopener\" target=\"_blank\">mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Multifamily owner and operator Adam America has sold a 70-unit residential building at 599 Baltic Street in Gowanus,&hellip;\n","protected":false},"author":2,"featured_media":85801,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[41714,98,100,99,2664,6920,9,24,63,41715],"class_list":["post-85800","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-599-baltic-street","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-investments-sales","tag-john-mccarthy","tag-new-york","tag-new-york-city","tag-nyc","tag-omri-sachs-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/85800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=85800"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/85800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/85801"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=85800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=85800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=85800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}