A 35-building Manhattan apartment portfolio has fetched $160 million. Last week, a private investment group sold 758 residential units and six retail units to an unnamed buyer. The seller was the Manhattan-based Klein family.
“These buildings were not being utilized to their fullest potential and contained many undervalued assets,” says Aaron Jungreis, president of investment sales at GFI Realty Services.
The Yorkville portfolio totals over 350,000 sq. ft. and includes 30 walk-up buildings and five elevator buildings. The properties are located between East 55th and East 89th street in Manhattan.