From left: Ofer Yardeni, 315 West 33rd Street and 235 West 48th Street (building photos’ source: PropertyShark)
The current investment sales market, with many buyers and few sellers, will make acquisitions difficult for the large rental firm Stonehenge Partners, which is seeking to raise a $1 billion fund to buy apartment buildings or related real estate debt in New York City, real estate analysts say. Ofer Yardeni, a managing director and co-founder of Midtown-based Stonehenge, told an audience last week at the Massey Knakal Multi-family Summit that he planned to raise the private equity fund, noting that rent-regulated buildings provide a good opportunity to increase the value of Manhattan real estate as tenants leave and rents are increased to market levels. … [more]
