SHEL Capital, Bluestone JV acquires 105-unit Gowanus Apartments for $69M ($652k/unit)

3/20/2025

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Connect CRE

• Subcategory: MF: Market Rate

• Tag: JV-Partnership | Sale

• Additional Filters-Subcategory: MF: Highrise

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Jones Lang LaSalle (NYSE: JLL)

JLL Capital Markets arranged the $68.5-million sale and $44.525-million financing for 237 11th St., a 12-story Class A mixed-use multifamily and retail property in the Gowanus neighborhood of Brooklyn. The seller was Trinity Place Holdings and the buyer was a partnership between Bluestone Investments and Shel Capital.