Torkian Group buys Midtown rental building from Douglaston for $72M

Luxury development the Cameo includes 102 rental units

TRD New York /
April 02, 2015 12:35 PM

Hersel Torkian’s the Torkian Group bought the Cameo, a luxury residential building in Midtown West, for $72 million from Jeffrey Levine’s Douglaston Development, according to records filed with the city today.

The seven-story building, located at 311 West 50th Street, includes 102 rental units across more than 79,000 square feet of residential space. The building also includes 2,000 square feet of office space.

In 2013, Douglaston settled with its lender U.S. Bank National after refinancing a troubled loan at the rental building, as The Real Deal previously reported. Levine Builders, an affiliate of Douglaston, acquired the building in 2000.

The Torkian Group has been active over the last year. In September, it filed plans to build a 202-unit, 35-story residential tower at the former site of An Icon Parking Garage On West 33rd Street. In October 2014, it bought a 14-story building at 110-112 Greenwich Street for $53 million.


Related Article

arrow_forward_ios
Renderings of 601 West 29th Street and Jeff Levine (Credit: CityRealty and Douglaston)

Douglaston brings in new partner on West Side resi tower, lands construction loan

Wanted: $415M in construction financing for Douglaston’s Hudson Yards project

At the desk of: Benjamin Levine

Douglaston leases Hudson Yards site, paving way for 931-unit tower

arrow_forward_ios