Steiner Studios has purchased the Jardin, a 44-unit Williamsburg luxury rental building, for $38 million, Crain’s reported. This marks Steiner’s second residential building acquisition this year alone.
Last month, Steiner Studios paid $24.5 million in cash for a 60-unit Carroll Gardens rental property. The company also purchased a Downtown Brooklyn portfolio of four buildings for $30 million, and has plans to bring a 720-unit rental building to the site.
As previously reported the Jardin, which is located at 142 N. 6th Street, was a condominium development that turned rental earlier this year to take advantage of the rising rental market, Crain’s said. And just five weeks after the units hit the rental market, the building was fully leased. [Crain’s]