Ben Beitel Sells Luxury Brooklyn Building for $52M

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Two real estate players with interests in multiple businesses found themselves on opposite sides of a luxury multifamily deal in Brooklyn.

Doron Greenberg purchased the property at 100 Lenox Road in Prospect Lefferts Gardens through an affiliate of Metis Equities for $52 million, the Commercial Observer reported. The deal for the eight-story, 95-unit property breaks down to more than $547,000 per unit.

The seller was Pulse Bedford Development, an entity associated with Ben Beitel of the Beitel Group. Beitel redeveloped the property in 2020.

The property has units ranging from studios to two-bedroom apartments and amenities including a fitness center, coworking spaces, bike storage and a parking garage. There are two available units, according to StreetEasy: a one-bedroom for nearly $3,400 a month and a two-bedroom for nearly $4,400 a month.

Metis and Pulse Bedford both did not respond to requests for comment from the publication.

In addition to Metis, Greenberg is the co-founder of GO-RE Partners; Metis is a joint venture between GO-RE and Vision Real Estate. Last year, GO-RE bought a 66-unit building in Flatbush for $28 million.

In 2023, Greystone Development flipped a two-building, 76-unit multifamily development in Harlem to GO-RE for $28.2 million.

Through the Beitel Group, meanwhile, Ben Beitel secured a $155 million bridge loan last August from Dwight Mortgage Trust to refinance its 405-unit multifamily property at 261 and 315 Grand Concourse in Mott Haven, less than a year after receiving a $135 million construction loan from Scale Lending.

The development, which includes both market-rate and affordable units, qualified for city programs providing a 35-year tax abatement and Brownfield tax credits.

Elsewhere in Prospect Lefferts Gardens, Apex Investments filed plans in June to redevelop a Speedway gas station site at 530 Utica Avenue into a 15-story, 224-unit housing project. The proposed 200,000-square-foot building will feature retail and business space on the ground floor, along with amenities such as a tenant lounge, laundry facilities, outdoor space and community space.

— Holden Walter-Warner