Charatan’s BCB Property buys UWS portfolio for $81M

Morningside Heights buildings change hands for first time in 30 years

New York /
Nov.November 25, 2014 08:00 AM

BCB Property Management, the development firm led by Robert Durst’s estranged wife Debrah Lee Charatan and her son Bennat Charatan Berger, acquired a six-building Upper West Side portfolio near Columbia University for $80.75 million, The Real Deal has learned.

The portfolio consists of six rental properties — 500 Cathedral Parkway and West 110th Street; 3143, 3147 and 3149 Broadway; 111 West 104th Street and 242 West 109th Street. Together, they hold 152 apartment units — 97 of them market rate — and six retail spaces that currently have five tenants.

Aventura, Fla.-based investor Arnold Wax owned the buildings for more than 30 years. He put them on the market for $89 million in April, as TRD reported.

Marcus & Millichap’s Marco Lala, Jack Lala and David Raciti represented both sides.

BCB, which specializes in New York multifamily properties, closed last week on the assemblage for more than $600 per square foot. It plans to gut-renovate each of the apartments as they are vacated over time, Lala said.

A representative for BCB declined to comment. In July, the firm sold two Brooklyn buildings to Fred Wilpon’s Sterling Equities and Enterprise Asset Management, as TRD reported.


Related Articles

arrow_forward_ios
Street Partnership's Dan Biederman with Herald Square
“We’re not alarmed:” Herald Square retail in reverse
“We’re not alarmed:” Herald Square retail in reverse
A photo illustration of Times Square (iStock)
Retail asking rents show signs of recovery
Retail asking rents show signs of recovery
Nelson Lee and Eric Anton of Marcus & Millichap (REBNY)
Karaoke and bees: Marcus & Millichap wins REBNY’s most “ingenious deal”
Karaoke and bees: Marcus & Millichap wins REBNY’s most “ingenious deal”
The ascendants: New leaders take the helm at city’s top brokerages
The ascendants: New leaders take the helm at city’s top brokerages
The ascendants: New leaders take the helm at city’s top brokerages
Marcus & Millichap says it was the target of a cyber attack
Marcus & Millichap says it was the target of a cyber attack
Marcus & Millichap says it was the target of a cyber attack
Marcus & Millichap reports record-high quarterly revenue, earnings
Marcus & Millichap reports record-high quarterly revenue, earnings
Marcus & Millichap reports record-high quarterly revenue, earnings
Marcus & Millichap CEO Hessam Nadji and Mission Capital principal David Tobin (Photos via Marcus & Millichap; Mission Capital)
Marcus & Millichap inks deal to buy Mission Capital Advisors
Marcus & Millichap inks deal to buy Mission Capital Advisors
Mission Capital principal David Tobin and Marcus & Millichap president and CEO Hessam Nadji
Marcus & Millichap to acquire Mission Capital Advisors
Marcus & Millichap to acquire Mission Capital Advisors
arrow_forward_ios

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

Loading...