Stonehenge picks up Second Avenue apartment building for $47 million

August 10, 2011 08:56AM

A 93-unit apartment building at 1143 Second Avenue that hit the market in June has gone into contract for $47 million to Stonehenge Partners, the New York Post reported. The all-cash deal for the partially stabilized building was signed yesterday and is slated to close after Labor Day.

The deal for the six-story building includes 15,000 square feet of retail on the westerly block between 60th and 61st streets and 77,000 square feet of development rights. It was not immediately clear whether Stonehenge, operated by Ofer Yardeni and Joel Seiden, would build at the site or simply hold on to the development rights for future construction.

The Jones Lang LaSalle marketing team of Richard Baxter, Ron Cohen, Scott Latham and Jon Caplan represented the seller KFJ Realty in the sale. This is the first time that the building has changed ownership in 50 years.

Stonehenge currently owns or manages 19 Manhattan properties with 2,700 units, including a 178-unit building in Greenwich Village it bought from St. Vincent’s Hospital for $67 million last year. [Post]