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
The average price of a London home rose above 500,000 pounds, or roughly $685,000, for the first time. (Getty)
London home prices hit new high
London home prices hit new high
(Illustration by The Real Deal)
Americans bought 5.6M homes last year — the most since the bubble
Americans bought 5.6M homes last year — the most since the bubble
Randy Mastro and 21 East 83rd Street (Photos via Getty; Google Maps)
Former deputy mayor Randy Mastro, lawyer in Lucerne controversy, lists UES home
Former deputy mayor Randy Mastro, lawyer in Lucerne controversy, lists UES home
Overall, the number of housing units that started construction last year was up 7 percent from 2019. (iStock)
Residential construction had busiest year since 2006: MBA
Residential construction had busiest year since 2006: MBA
Common Projects sneaker designer Peter Poopat bought the home in December. (Getty, Brown Harris Stevens)
$6.5M Fort Greene townhouse sale breaks neighborhood record
$6.5M Fort Greene townhouse sale breaks neighborhood record
(iStock)
Homebuilder sentiment falls for second month in a row
Homebuilder sentiment falls for second month in a row
(iStock)
Homebuying up again, but rising mortgage rates depress refinancing
Homebuying up again, but rising mortgage rates depress refinancing
The two most expensive contracts signed last week were condos at One Prospect Park West. (Douglas Elliman)
Brooklyn luxury market roars back to life
Brooklyn luxury market roars back to life
arrow_forward_ios

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

Loading...