Pacific Urban Investors Expands East Coast Footprint with Leonard Pointe Acquisition in Williamsburg, Brooklyn

Pacific Urban Investors, a multifamily owner-operator and investment manager, has completed its seventh acquisition in the New York Metro, increasing its regional portfolio to 1,853 units. The newly acquired community, Leonard Pointe, consists of 188 units located in the affluent Williamsburg neighborhood of Brooklyn. This acquisition marks Pacific Urban’s 15^th property on the East Coast, reflecting continued strategic expansion into key markets, including Boston, the Mid-Atlantic, and the Southeast.

“We are excited to grow our East Coast portfolio with Leonard Pointe, a high-quality community in one of New York City’s most dynamic neighborhoods,” said Matt Lederer, Vice President of Investments. “Williamsburg has been a submarket of focus for us due to its proximity to Manhattan, vibrant entertainment and lifestyle amenities, and various transportation options. Leonard Pointe reflects our commitment to investing in well-located communities that provide residents with exceptional living experiences. We fully expect this investment to be the first of many in our East Coast markets this year and look forward to a productive 2025.”

Leonard Pointe is located in the Williamsburg neighborhood of Brooklyn, a very popular well-amenitized neighborhood proximate to major employment nodes including Manhattan and the 7.4 million total jobs in the New York Metro MSA. In addition to Manhattan’s 607M SF of office space with over 4.7 million jobs, there are over 1.1 million jobs in Brooklyn itself. The immediate area benefits from a neighborhood feel with several transportation options and numerous entertainment/lifestyle amenities. McCarren Park is also less than a 5-minute walk from the property. Built in 2015, Leonard Pointe is a contemporary mid-rise community with a modern and industrial design, functional floor plans, condominium-quality unit interiors, and an extensive amenity set built over an on-grade resident only parking garage. The property is very well amenitized, including the first floor consisting entirely of amenities, and a large rooftop deck, the size of the building footprint, a durable competitive differentiator in the submarket.

“Leonard Pointe continues our commitment to investing in housing in core, job- and amenity-rich locations that provide a significant value proposition for our residents,” said John Fluke, Managing Director. “Consistent with our long-term strategic plan, the investment marks a continued focus on geographically diversifying our portfolio across the country. We are eager to continue to expand across the East Coast and have significant amounts of discretionary capital slated for that purpose.”