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

Morningside Heights buildings change hands for first time in 30 years

TRD 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
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
Marcus & Millichap CEO Hessam Nadji

Marcus & Millichap CEO predicts “exodus” from cities to last two years

Marcus & Millichap CEO predicts “exodus” from cities to last two years
William Millichap

William Millichap of eponymous brokerage dies at 76

William Millichap of eponymous brokerage dies at 76
Marcus & Millichap laying off 20% of workforce

Marcus & Millichap laying off 20% of workforce

Marcus & Millichap laying off 20% of workforce
38-42 12th Street (Credit: Google Maps)

Joint venture plans 400K sf commercial project for LIC

Joint venture plans 400K sf commercial project for LIC
Rendering of the Staybridge Suites at 38-59 11th Street

Long Island City hotel project moves forward with construction loan

Long Island City hotel project moves forward with construction loan
CW Realty's Cheskie Weisz and the Williamsburg assemblage (Credit: CW Realty and Google Maps)

CW Realty buying Williamsburg assemblage for $39M

CW Realty buying Williamsburg assemblage for $39M
441 Ocean Avenue and 1745 Caton Avenue in Brooklyn (Credit: Google Maps)

Meridian Properties buys pair of
rent-stabilized buildings for $35M

Meridian Properties buys pair of
rent-stabilized buildings for $35M
arrow_forward_ios

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

Loading...