Stonehenge to buy large UWS rental for $135M

The Bradford at 210 West 70th St. was marketed for condo conversion, but likely to stay a rental

TRD New York /
Nov.November 24, 2015 04:50 PM

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:
Stonehenge Partners
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.


Related Articles

arrow_forward_ios
Jerry Rotonda (Credit: LinkedIn)

Former Deutsche Bank exec has defaulted on $3M loan, lawsuit says

65 East 55th Street and EQ Office CEO Lisa Picard (Credit: Park Avenue Tower and VTS)

Blackstone looks to sell Park Ave Tower for more than $800M

Brett Siegel, Jean Celestin, and Evan Layne with Newmark Knight Frank offices at 125 Park Avenue (Credit: LinkedIn and Google Maps)

Newmark poaches Eastdil Secured sales team

From left: London, Shanghai and Paris

The TRD weekly global digest

Related CEO Jeff Blau, Deutsche Bank CEO Christian Sewing, and Time Warner Center at 10 Columbus Circle (Credit: Getty Images and Wikipedia)

Deutsche Bank shrinks footprint at future Columbus Circle home amid global downsizing

Have no fear? Debt brokers say Deutsche Bank quelled concerns about real estate lending

Have no fear? Debt brokers say Deutsche Bank quelled concerns about real estate lending

Garth Ritchie (Credit: Getty Images)

Head of Deutsche’s I-banking arm to step down

Rudy Giuliani and wife list Palm Beach condo amid nasty divorce

Rudy Giuliani and wife list Palm Beach condo amid nasty divorce

arrow_forward_ios