UWS rental sold for $47M ahead of the cliff

TRD New York /
Jan.January 08, 2013 09:00 AM

In the rush to beat the fiscal cliff, a 12-story Upper West Side apartment building at 2410-2418 Broadway at West 89th Street traded for $47 million just before the new year, the New York Post reported. The buyer was real estate investor Robert Gilardian and the seller was a partnership dubbed M.E. & A. Realty.

The 46-unit building — 61 percent of which are rent-regulated — had been owned by the same partnership for 70 years, which included 14 members at the time of the sale. The building includes 5,000 square feet of retail space mostly on The Broadway side.

The sale was co-brokered for the seller by Amit Doshi of Besen & Associates and Eastern Consolidated’s Alan P. Miller, Aliza Avital and Patricia M. Garcia. Avital and Garcia have since left Eastern Consolidated.

Doshi told the Post that the building was “widely marketed” and the winning bid was from a “local investor who understood the dynamics of the tenancy as well as the property’s upside potential.” [NYP, 2nd item]


Related Articles

arrow_forward_ios
Placeholder image

Luxury sellers who rushed to avoid fiscal cliff may have been too hasty, experts say

Luxury sellers who rushed to avoid fiscal cliff may have been too hasty, experts say
Placeholder image

Fiscal cliff deal preserves key housing tax breaks

Fiscal cliff deal preserves key housing tax breaks
From left: Robert Dvorin, Meredyth Smith and Dolly Lenz

In white-glove buildings sellers look to close deals, as fiscal cliff looms

In white-glove buildings sellers look to close deals, as fiscal cliff looms
Mary Ann Rothman and Eva Talel

On the edge of the fiscal cliff, co-op owners scramble to complete trust transfers

On the edge of the fiscal cliff, co-op owners scramble to complete trust transfers
Ara Hovnanian and Doug Yearley

U.S. home builders urge Obama, Boehner to avoid fiscal cliff

U.S. home builders urge Obama, Boehner to avoid fiscal cliff
Placeholder image

Underwater homeowners say “fiscal cliff” could cost them six figures in federal taxes

Underwater homeowners say “fiscal cliff” could cost them six figures in federal taxes
President Obama

Mortgage-interest deduction in danger: Obama

Mortgage-interest deduction in danger: Obama
Placeholder image

Housing and tax reform—it’s complicated

Housing and tax reform—it’s complicated
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...