$26M bulk package available at UES building

TRD New York /
Jul.July 22, 2009 12:28 PM

After testing the waters with a few individual apartments, Prudential Douglas Elliman’s Lenny Sporn and Mickey Roth have listed all of the remaining sponsor units in 370 East 76th Street as a $26 million bulk purchase. The package includes 55 units totaling 48,355 square feet, Roth said.
He said both the individual units and the package, which became available last week, have seen interest. Several current tenants of the 366-unit co-op are considering putting their units on the market as part of the package, Roth said, and others are interested in buying additional units in the building, owned by East 76th LLC.

The fact that both individual units and a package are available is uncommon, Roth said, though bulk sales have become more popular as home prices and sales have dropped. “It doesn’t happen so often that people can buy individually.” Prices for individual units in the building range from $250,000 to $2.1 million and from 550 to 2,050 square feet, according to Elliman’s Web site.

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