555 Ocean Ave

Chestnut Holdings of New York, operating through the entity 555 O LLC, acquired an 85-unit residential elevator building located at 555 Ocean Avenue in Flatbush, Brooklyn, from Daniel Reifer’s Three Nickels LLC, for $10.3 million. This transaction involved a property that was in bankruptcy. The building encompasses 103,472 square feet of built space and has 9,315 square feet of additional air rights.