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Flatbush Gardens is a post-war rental building in Brooklyns Flatbush neighborhood finished in 1950. Situated at 1401 New York Avenue, between Foster Avenue and Farragut Road, the building contains 420 units and rises 6 stories.
Clipper Equity, founded by David Bistricer, bought the housing project in 2005 for $138.2 million from a California pension fund.
Known for its busy commercial district, the area also features quaint, quiet streets lined with Victorian mansionsespecially in adjacent Ditmas Parkand landmarks like the Flatbush Reformed Church, whose current building was constructed in the late 18th century.
While Flatbush is predominantly African American and West Indian, there are sizable numbers of White Americans, Latinos and Indian Americans living within its borders. A majority of residents are working class, but there also are middle-class and wealthier residents who call Flatbush home.
David Bistricer is CEO of Clipper Equity, a real estate firm started by his father in the 1950s. Today, the Orthodox Jewish family owns 60 buildings, with thousands of residential units, in New York and New Jersey.
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