Ofer Yardeni’s Stonehenge Partners is in contract to buy a large Upper West Side rental building known at the Bradford for $135 million, according to insiders.
The 15-story, 175,000-square-foot property at 210 West 70th Street, near Amsterdam Avenue, houses 173 rental units and restaurant Lincoln Square Steak. About a third of the apartments are rent-stabilized.
Behind the story:
210 West 70th Street
RREEF, the real estate investment management arm of Deutsche Bank, is expected to close on the sale to Stonehenge by year’s end, sources said.
The deal comes to about $770 per square foot.
Although SL Green Realty bought a roughly 50 percent stake in Stonehenge’s 23-building, 2.6 million-square-foot portfolio late last year, it is not immediately clear if the firm is a partner on this pending deal.
Eastdil Secured’s Adam Spies and Douglas Harmon were marketing the property as a potential condo conversion, but Stonehenge is likely continue operating it as a rental, sources said.
Representatives from Stonehenge and Eastdil could not be reached, while Deutsche Bank declined to comment.
In another sizable, single-building Upper West Side multifamily buy, Larry Gluck’s Stellar Management is slated to close later this month on the $150 million purchase of the Paris, a 24-story rental at 752 West End Avenue.