James Development scoops up 72 units at Manhattan House

O'Connor Capital listed units in August

New York /
Dec.December 15, 2017 09:15 AM

James Development just snapped up 72 condo units at a landmarked Upper East Side building for $68.4 million.

The apartments are part of the 493-unit building at 200 East 66th Street known as the Manhattan House, which completed a condo conversion in 2015. In August, owner O’Connor Capital Partners listed 74 units at 200 East 66th Street — all still occupied by rent-stabilized tenants — for $83.3 million.

Representatives for O’Connor and James didn’t immediately return messages seeking comment on the deal.

O’Connor purchased the 20-story building in 2005 for $623 million, along with then-partner N. Richard Kalikow. The two split soon after getting approval for a $1.1 billion condo conversion plan for the property.

Of the 74 markets that were on the unit, 42 have balconies and 10 feature wood-burning fireplaces, according to the listing in August. The monthly rental income checked in at $191,329, an average of about $2,600 per apartment.

The Manhattan House was built in 1950 and was formerly home to Grace Kelly, Jackie Robinson and jazz legend Benny Goodman.


Related Articles

arrow_forward_ios
Phase out of flood insurance subsidies could upend coastal real estate markets
Phase out of flood insurance subsidies could upend coastal real estate markets
Phase out of flood insurance subsidies could upend coastal real estate markets
Sculpture artist Robert Hooke’s Sag Harbor home lists for $10M
Sculpture artist Robert Hooke’s Sag Harbor home lists for $10M
Sculpture artist Robert Hooke’s Sag Harbor home lists for $10M
 An industry report says that mortgage lenders and investors are ill-prepared for the growing challenge of climate risk. (iStock)
Mortgage market stakeholders are unprepared for growing climate change threats
Mortgage market stakeholders are unprepared for growing climate change threats
Macklowe Properties CEO Harry Macklowe, CIM Group Co-Founder Richard Ressler and 432 Park Avenue (Getty, CIM)
432 Park Avenue residents sue developers for $250M
432 Park Avenue residents sue developers for $250M
US household real estate values jump by record $1.2T
US household real estate values jump by record $1.2T
US household real estate values jump by record $1.2T
David Bitton, CMO and co-founder of DoorLoop and Ori Tamuz, CEO and co-founder of DoorLoop (Bitton, DoorLoop, Getty)
Startup DoorLoop to take on goliaths in rental management software
Startup DoorLoop to take on goliaths in rental management software
Richard Grossman
Brown Harris Stevens’ NYC president Richard Grossman steps down
Brown Harris Stevens’ NYC president Richard Grossman steps down
The six bedroom Sagaponack house (Out East)
Sagaponack mansion lists for $32M in East End’s supply-constrained market
Sagaponack mansion lists for $32M in East End’s supply-constrained market
arrow_forward_ios

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

Loading...