204 Wythe rendering (Source: Curbed)

New details are spilling out of 204 Wythe Avenue, a warehouse-cum-rental conversion being developed by Mack Real Estate Capital and Urban Development Partners, Brownstoner reported. There’s now a new rendering and updated information on what the 248,000-square-foot build in Williamsburg will include.

There will be 229 units inside the seven-story property, as well as 7,500 square feet of ground-level retail space with parking. [more]

From left: Related CEO Jeff Blau, Related EVP John Jacobsson and a rendering of the Hudson Yards project

The Related Companies has hired John Jacobsson, a managing partner and veteran of AREA Property Partners, as an executive vice president, the company told The Real Deal today. In the newly-created position, Jacobsson will pursue new business and raise money both domestically and internationally, especially from large institutional players, he said. [more]

From left: Ronald Solarz and Eric Anton, 248 Sherman Avenue and 961 St. Nicholas Avenue (buildings credit: PropertyShark)

UPDATED, Feb. 20, 12:50 p.m.: Area Property Partners has sold a portfolio of 10 Upper Manhattan multi-family properties known as the Decathlon portfolio for $49 million, or about $7.5 million less than the firm paid for the collection of buildings in 2007, according to records filed with the city today. [more]

730 Riverside Drive

Area Property Partners has sold a Hamilton Heights apartment building for almost $18.2 million, or about $2 million less than what the company paid six years ago, city records show. The building, located at 730 Riverside Drive between West 150th and West 151st streets, was sold to an LLC identified in public records as 730 Riverside Drive. Douglas Eisenberg of A&E Real Estate, a New York-based real estate investment firm, signed the deed to purchase the building. [more]

Knickerbocker Village

Knickerbocker Village residents who have not had power, heat or running water in the two weeks since Hurricane Sandy will get a rent refund, DNAinfo reported. Twenty five feet of flood water broke through four-inch steel doors and ravaged the 13-building complex’s boiler and electrical wiring system.

The 1,600-unit Lower East Side property is owned by AREA Property Partners and managed by Knickerbocker Village, Inc. AREA is still working through the details for how to return rent. [more]

From left: Ronald Solarz and Eric Anton, 248 Sherman Avenue and 961 St. Nicholas Avenue (buildings credit: PropertyShark)

Brookfield Financial was named the exclusive broker for the $50.1 million Decathalon Portfolio, a group of 10 multi-family buildings in Upper Manhattan that were put on the market after lenders filed to foreclose on Vantage Properties. The portfolio includes 474 pre-war apartments in Washington Heights and Inwood, of which 116 are renovated. The properties are only available as a group, according to documents obtained by The Real Deal. [more]

The Apthorp

UPDATED: The owners of the Upper West Side’s Apthorp condominium, led by Africa Israel USA, have lost control of the long-troubled Renaissance Revival apartment house to mezzanine lender Area Property Partners, according to documents obtained by The Real Deal.

Irish Bank Resolution Corp., the Irish government entity that took over Anglo Irish Bank, sold the Apthorp’s mortgage debt to Arefin U.S. Investment, an affiliate of Area, and that deal closed Aug. 10, according to documents filed with New York Attorney General Eric Schneiderman. The $385 million mortgage debt, had a balance of $225 million at the end of 2011. [more]

From left: Paul Massey, CEO of Massey Knakal and William Mack, chairman of Area

Investment sales in New York City are led by transactions above 96th Street in Manhattan and in Brooklyn, a recent report from brokerage Massey Knakal shows, according to Bloomberg News.

Sales in Upper Manhattan totaled $441 million in the first half of 2012, three times the amount for the same period last year, Bloomberg noted. Sales in Brooklyn totaled $1.3 billion, up 60 percent. [more]

From left: David Dishy, who leads the Citigroup and L&M Development fund, Savoy Park, Vantage CEO Neil Rubler and Area Chairman William Mack

Vantage Properties and Area Property Partners have unloaded the Savoy Park apartment complex in Harlem for more than $210 million, Bloomberg News reported, satisfying the outstanding balance on the senior mortgage.

The buyer is the New York Affordable Housing Preservation fund, a real estate fund created by Citigroup and L&M Development Partners. The 1,800-unit complex is made up of seven rent-regulated building between 139th and 142nd streets. [more]

From left: David Schechtman, Lipa Lieberman, 80 Fort Washington Avenue and 884 Riverside Drive

A portfolio of eight Upper Manhattan apartment buildings owned by landlord Vantage Properties and investment partner Area Property Partners sold last month for approximately $65 million, sources familiar with the deal said, far below what the partners paid for the properties in 2007. The three buyers included John Streicker’s Midtown-based Sentinel Real Estate, Queens-based Alma Realty and Onex Real Estate Partners, based in Midtown, several sources said. [more]