Orbach Group scoops up UWS rental for $26M

Israel Discount Bank provides financing for purchase of 49-unit building

TRD New York /
Jul.July 20, 2016 05:50 PM

The Orbach Group bought a 49-unit Upper West Side rental building for $26 million.

The New Jersey-based multifamily investment firm bought the building at 50 Manhattan Avenue from the Wick Holding Corp. for $25.8 million, according to property records filed with the city Wednesday. The property is located in the Upper West Side’s Manhattan Valley neighborhood, between West 102nd and 103rd streets.

Nearly all of the apartments in the 42,783-square-foot building are rent-stabilized units. The sales price works out to $603 per square foot.

A representative for Orbach could not be immediately reached for comment.

The Israel Discount Bank of New York provided a $15 million acquisition loan, records show.

Tenant advocates last year accused Orbach of installing metal gates outside one of its Upper West Side buildings and hiring a private investigator as a way to harass renters.

Epic Commercial Realty TRData LogoTINY brokers Ido Tzaidi and Anthony Celifarco represented the buyer and the seller.


Related Articles

arrow_forward_ios
José Calderón and 235 West 75th Street (Calderón by Borja B. Hojas/Getty Images; Google Maps)

Former Knick scores unit at HFZ’s Upper West Side condo

Former Knick scores unit at HFZ’s Upper West Side condo
Imperial Hotel at 307 West 97 Street (Photo via Google Maps)

UWS hotel settles with city over illegal short-term rentals

UWS hotel settles with city over illegal short-term rentals
60 Riverside Boulevard and (inset) the island of Nauru (Google Maps)

UWS condo caught up in bribery scandal tied to world’s smallest republic

UWS condo caught up in bribery scandal tied to world’s smallest republic
317 West 77th Street (Google Maps, iStock)

Townhouse owners make federal case of cell tower next door

Townhouse owners make federal case of cell tower next door
200 Amsterdam Avenue

Judge scolds 200 Amsterdam developers: “Owner must bear the responsibility”

Judge scolds 200 Amsterdam developers: “Owner must bear the responsibility”
201 West 92nd Street and 78 Riverside Drive (Credit: Google Maps)

Acuity Capital lands $324M refi on 28-building multifamily portfolio

Acuity Capital lands $324M refi on 28-building multifamily portfolio
200 Amsterdam Avenue and Municipal Art Society President Elizabeth Goldstein (Credit: iStock) 

Foes of 200 Amsterdam say other towers safe from cut-down

Foes of 200 Amsterdam say other towers safe from cut-down
The Strand at 828 Broadway and Book Culture at 450 Columbus Avenue (Credit: Wikipedia, Google Maps)

Strand to take over former Book Culture location on UWS

Strand to take over former Book Culture location on UWS
arrow_forward_ios

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

Loading...