Market Overview

RD Management and Yassky Properties Acquire 55 5th Ave in Brooklyn, New York for $4.15 Million

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Partners purchase mixed-use building in heart of Park Slope
neighborhood

RD
Management LLC
, one of the nation's largest privately held
real-estate development and management organizations, announced today it
has acquired a mixed-use building located at 55 5th Avenue in Brooklyn,
New York alongside partner Yassky
Properties
. The companies purchased the building from Burke
Leighton Asset Management
for $4,150,000. Yassky Properties will
manage the property.

The 6,316-square-foot mixed-use building on 5th Avenue, between Bergen
Street and Saint Marks Avenue, offers six apartments and a ground-level,
1,390-square-foot retail space that is currently vacant. The four-floor
walkup was built in 1920 and provides railroad style, two-bedroom
apartment units and lower-level storage. Situated in a bustling retail
corridor in Park Slope, a highly coveted residential neighborhood in
Brooklyn, the building is in close proximity to the popular sports arena
and event venue Barclays Center and also Prospect Park. Residents of 55
5th Ave will have easy access to Brooklyn's largest transportation hub,
Atlantic Terminal, and surrounding retailers including Whole Foods
Market, Starbucks, SoulCycle, and Shake Shack, as well as City Point,
one of the largest shopping destinations in Brooklyn.

"At RD Management, we're continuously seeking new opportunities that
will allow us to expand and diversify our portfolio beyond traditional
retail," said Richard Birdoff, principal and president of RD Management.
"The acquisition of 55 5th Ave couldn't have presented itself at a
better time as the Brooklyn real estate market is thriving and we have a
growing presence in the borough. We're looking forward to working with
Yassky Properties to enhance both the retail and multifamily portions of
the mixed-use asset and provide eager residents of Park Slope, named the most
livable neighborhood
in New York by New York Magazine, a great place
to live."

"This acquisition will enhance Yassky Properties' growing presence in
Brooklyn, where we currently own and manage a number of multifamily and
mixed-use properties," added Charles Yassky, principal of Yassky
Properties. "We also look forward to continuing our longstanding
partnership with RD Management."

RD Management owns 29 properties in New York and has more than 150
properties in its national portfolio. Those interested in leasing space
at 55 5th Ave can contact Peter Schubert at pschubert@terracrg.com
or (718) 768-7788.

About RD Management

Consistently ranked among the nation's largest, privately held
real-estate development and management organizations, RD Management owns
and operates a portfolio of 150+ assets throughout the United States and
Puerto Rico, with properties spanning the mixed-use, retail, office,
residential, hospitality, self-storage, senior/student housing,
industrial, and government sectors. RD Management specializes in
development, redevelopment, and acquisitions in key markets and
maintains in-house expertise in leasing, property management,
construction, accounting and finance, legal, and information technology
services. With more than 40 years of experience, RD Management has a
proven track record of enhancing the value of its properties through
hands-on management, renovation, and expansion. For more information
visit www.rdmanagement.com.

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