From left: Howard Lorber chairman of Prudential Douglas Elliman, Neil Binder, co-founder and principal at Bellmarc Companies, and John Janangelo, president of Bellmarc Property Management

Update (6:50 pm): Comments from Lorber and Binder added

Update (6:50 pm): Byline added

Douglas Elliman Property Management has acquired Bellmarc Property Management’s residential portfolio, the firms announced. In the deal, Elliman will assume management of 50 buildings, including 15 East 69th Street, 870 Fifth Avenue and CitySpire Center. “We are excited about the transition of this aspect of our business to Douglas Elliman Property Management, as it is a win-win for both companies,” said Neil Binder, principal of Bellmarc Property Management, an arm of Bellmarc Companies. “Douglas Elliman Property Management will be able to build on its impressive exiting portfolio of properties and Bellmarc will focus on enhancing its core business of residential brokerage.” Elliman boasts that it is Manhattan’s largest residential property manager. With the 50 additional buildings, Elliman’s portfolio will grow to 300 buildings. Douglas Elliman Property Management falls under the umbrella of Prudential Douglas Elliman Real Estate. … [more]

Today’s biggest price cut in Manhattan was at unit 6D at 15 East 69th Street, on the corner of Madison Avenue, according to Streeteasy.com. The condo dropped in price to $5.8 million from $6.8 million, marking a 17 percent price reduction. The 2,500-square-foot unit was put on the market in June this year, by Prudential Elliman’s Monique Silberman. According to Elliman, this two-bedroom, three-bath condo is in “triple-mint condition,” and the building features a gym and garage. TRD… [more]