A&E Real Estate Holdings is acquiring a trio of rental buildings on the Upper West Side for at least $180 million.
The Stonehenge Village complex — one on West 96th Street and two on West 97th Street — contain about 420 apartments overall, and A&E bought them from a joint-partnership of Ivanhoe Cambridge, SL Green Realty and Stonehenge Partners, according to Crain’s.
The owners had instituted a controversial policy banning rent-stabilized tenants from using a gym at the property. However, they eventually backtracked and let the tenants use the facility for a monthly fee.
A&E, a major multifamily investment firm led by Douglas Eisenberg and John Arrillaga Jr., is particularly active in Northern Manhattan and Queens. Blackstone Group recently bought the majority stake in a 13-building portfolio that Harvard Management Company had owned with A&E for $243.6 million. [Crain’s] – Eddie Small