Israeli Developer Golden Arc Snags Sheepshead Bay Luxury Rental Complex for $53M
Aurec Capital, operating under Golden Arc, acquires 105-unit luxury rental in Sheepshead Bay from Lay Assets for $52.5M.
An Israeli developer, operating in the US under the name Golden Arc, has acquired a luxury rental complex in Sheepshead Bay for a whopping $53 million. The 105-unit building, located at 2450 Ocean Avenue, was previously owned by Brooklyn-based firm Lay Assets. The seven-story, 95,000-square-foot building, also known as 2442 Ocean Avenue, boasts an impressive location at the corner of Avenue T and Ocean Avenue.
Despite the high price tag, there are currently only two available apartments in the building, according to StreetEasy. However, residents can enjoy amenities such as a gym, indoor pool, and rooftop terrace.
While the deal may seem like a win for Golden Arc, it is worth noting that the developer has faced criticism for their tactics in the past. According to The Real Deal, Golden Arc has been accused of using "soft corruption" and playing influence games to secure deals. This raises questions about the true value of the acquisition and the potential impact on the Sheepshead Bay community.
Originally reported by
https://therealdeal.com/new-york/2025/09/04/israeli-developer-buys-sheepshead-bay-rental-for-53m/