Penson Sells State Street Properties

The Penson Companies, the owners of the now infamous 100 Clark Street, has sold a portfolio of State Street townhouses to JG Capital according to Brownstoner:

Brownstoner: Heights Brownstone…: A five-building portfolio of brownstones in Brooklyn Heights was just sold off by a controversial landowner in the neighborhood for a combined price of $7,201,000, according to city records. The five multi-tenant properties at 182-190 State Street were sold by The Penson Companies, the real estate investment firm that made headlines last summer when its long-neglected rental property at 100 Clark Street collapsed. The sales prices were well below the asking prices–the original offering document had asking prices of $1,525,000 for #182, $1,200,000 for #186 and $1,660,000 for #188. The reason? Rent stabilized tenants! At #182, six out of seven units have rents under $1,000; at #186, four of six units rent for under $1,000; and at #188, seven of eight bring in less than $1,000 a month. No word on who the buyer is behind the nondescript LLC on the paperwork. Update: A reader in the comments i.d.’s the buyer as JG Capital of Manhattan.

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