The Real Deal New York

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

Morningside Heights buildings change hands for first time in 30 years

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.

  • WhoWillRobDurstPissOnNext?

    Great deal