Private-equity giant the Carlyle Group has acquired a luxury rental building in Gowanus, records show.
Amid a monthslong stint snatching up at least half a dozen self-storage facilities throughout the five boroughs, the Washington, D.C.-based firm has purchased 438 Fourth Ave. for $32.1 million, according to a deed that appeared in the city register Monday. Wonjoong Kim, managing director at the Carlyle Group, signed the papers on behalf of the buyer, records show.
The seller was Queens-based real estate firm Werber Management, which made the transaction using the limited liability company 202 Park Slope. It had acquired the property in 2013 for $37.8 million. Benjamin Werber, a principal at the firm, signed the deed on behalf of the seller.
It’s unclear why Werber decided to part ways with the 12-story, 51-unit building, which has an alternate address listed as 202 Eighth St. It sits within the special Gowanus mixed-use district that was rezoned in 2021 with the goal of bringing more than 8,000 new apartments online.
There are no available units listed at the property — a one-bedroom was most recently rented for $4,300 in January, according to StreetEasy. According to CoStar, however, it has a 2.2% vacancy rate. Werber did not respond to a request for comment by press time.
Although the Carlyle Group has made a number of self-storage facility purchases, the acquisition of the Gowanus property is more aligned with its primarily residential portfolio, which includes 23-unit 25 Lexington Ave. in Clinton Hill, 123-unit 8 Marcy Ave. in Williamsburg and 150-unit 165 E. 66th St. in Manhattan, which it bought for $128 million in November. Led by CEO Harvey Schwartz , the firm recently purchased a self-storage site at 1-19 Remsen Ave. in East Flatbush for $50 million, Crain’s reported earlier this month.
The Carlyle Group did not return a request for comment by press time.
