The Real Deal New York

Sabr Group buys four Midtown townhouses for $54M

Garth Brooks' manager among sellers of East 55th buildings

July 01, 2016 07:30AM
By Mark Maurer and Rich Bockmann

113 119 East 55th Street

113-119 East 55th Street in Midtown

Sabr Group, a Midtown-based financial consulting firm, picked up a portfolio of four contiguous Midtown East townhouses from three different owners for $54 million, or $900 per buildable square foot, sources told The Real Deal.

The properties at 113-119 East 55th Street, between Park and Lexington avenues, collectively offer 60,000 buildable square feet. The buildings at 113 and 115 East 55th Street hold office space, while the other two hold a mix of rental apartments and offices and are interconnected.

The sellers of the homes all practice real estate as a secondary business.

Schechtman Lipa

From left: David Schechtman and Lipa Lieberman

For example, the owner of the three-story building at 113 East 55th Street is Robert Doyle, longtime manager of singer Garth Brooks, records show. Advertising executive Kathy Quinn owns 115, while venture capitalist John Wilkerson owns 117 and 119. The sellers each owned the respective buildings for at least 15 years, records show.

Together, the buildings span 22,000 square feet and boast 72 feet of frontage on East 55th Street.

A Meridian Capital Group team led by David Schechtman, Lipa Lieberman and Abie Kassin brokered the deal. They confirmed the deal, but declined to comment on the buyer.

Sabr Group, which controls the entity 113-119 55 Street LLC, is not active in real estate.

The assemblage sits directly next to L&L Holdings’ 670,000-square-foot office tower at 425 Park Avenue.

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