The Real Deal New York

James Development scoops up 72 units at Manhattan House

O'Connor Capital listed units in August
By Kathryn Brenzel | December 15, 2017 09:15AM

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.