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New York

Will record Apthorp buy pay off?

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Last night Africa Israel Investments announced it was purchasing a 50 percent stake in the landmark Apthorp building on the Upper West Side and intends to take the rental building condo. At approximately $2.4 million a unit – if ground-floor retail is thrown into the equation – it’s the highest price ever paid for a residential building in the United States. But will it pay off? more By Gabby Warshawer