Lightstone acquires East Village resi portfolio for $127M

David Lichtenstein-led firm buys six buildings holding 181 units from Pan Am Equities

New York /
May.May 05, 2016 08:38 AM

David Lichtenstein’s Lightstone Group acquired a portfolio of six multifamily rental buildings holding 181 units in the East Village from Pan Am Equities for more than $127 million.

The Midtown-based real estate investment firmTRData LogoTINY paid $52.1 million for five separate five-story buildings holding a combined 75 units at 112-120 East 11th Street, and also acquired a six-story, 106-unit property at 85 East 10th Street for $75.4 million. All of the buildings are located between Third and Fourth avenues.

The deal closed April 21, according to the Commercial Observer. News of the transaction was first reported by EV Grieve.

Lightstone recently secured $330 million in financing for the hotel conversion of a 16-story office building at 485 Seventh Avenue in Times Square, as well as a $75 million construction loan for its new 10-story rental building in Long Island City.

Lichtenstein was recently identified as the mystery donor who gave $50,000 to the Nassau Democratic Committee, which backed Todd Kaminsky’s bid to replace Dean Skelos in the senate. Reports claim Lichtenstein made the bid at the request of de Blasio’s top fundraiser, Ross Offinger, who’s the subject of a federal investigation[CO]Rey Mashayekhi


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Numbers were down across the board (Credit: iStock)
New York’s multifamily market had its slowest first half of the year since 2011
New York’s multifamily market had its slowest first half of the year since 2011
(iStock/Illustration by Kevin Rebong for The Real Deal)
NYC investment sales hit multi-year peak to end 2021
NYC investment sales hit multi-year peak to end 2021
Lenox Grand 13505 Burnet Road, Austin, Texas (OHT Partners)
A 16-acre multifamily development headed to North Austin
A 16-acre multifamily development headed to North Austin
Bayonne Mayor Jimmy Davis (City of Bayonne, NJ, Google Maps)
Bayonne to weigh 2 redevelopment proposals
Bayonne to weigh 2 redevelopment proposals
80-08 and 81-10 135th Street in Briarwood Queens (Google Maps)
Black Spruce picks up Queens multifamily portfolio
Black Spruce picks up Queens multifamily portfolio
Discovery at West Road on 9404 West Road, Houston and Haven at Eldridge on 13115 Whittington Drive and McCann Realty Partners Matt Akin (Pegasus Residential, McCann Realty Partners)
McCann Realty Partners swings two Texas multifamily deals
McCann Realty Partners swings two Texas multifamily deals
arrow_forward_ios

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

Loading...