Orbach Group sells another UWS property

Gili Haberberg’s Arkar Inc picks up 204 West 108th St. for $32.5M

TRD New York /
Mar.March 12, 2018 01:50 PM

204 West 108th Street and Meyer Orbach

The Orbach Group, fresh off the sale of a $116 million Upper West Side multifamily portfolio, just sold another rental building in the neighborhood.

The multifamily investment firm headed by Meyer Orbach sold the Canterbury at 204 West 108th Street to Gili Haberberg’s Arkar Inc. for $32.5 million, the broker who negotiated the sale told The Real Deal.

The purchase price is an 18 percent premium over the $27.5 million Orbach paid when the company bought the building in 2015.

Avison Young’s Sam Schertz, who brokered the sale, said the property’s “location, excellent condition and strong cash flow” made it an attractive investment.

Representatives for Orbach and Arkar couldn’t be immediately reached.

Orbach recently closed the sale of three-building portfolio nearby on 107th Street to Isaac Kassirer for $116 million. And earlier this month the investor sold a 50-unit apartment building at 415 West 120th Street to Pebb Capital for $20.3 million.

Arkar, meanwhile, last year paid $61.5 million to buy the 78-unit Lower East Side rental building at 331 East Houston Street from Samy Mahfar’s SMA Equities and Halpern Real Estate Ventures.

Related Articles

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

Numbers were down across the board (Credit: iStock)

New York’s multifamily market had its slowest first half of the year since 2011

Community Renewal CEO RuthAnne Visnauskas and Citywide Support director Dino Panagoulias  NYS Homes (Credit: LinkedIn, iStock)

Landlords lob another lawsuit at new rent law

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

29-28 41st Street, and from left: Arik Lifshitz Amit Doshi, Adan Elias Kornfeld, Jonathan Shainberg and David Schechtman (Credit: Google Maps)

Long Island City building fetches $47M in wake of rent law

A rendering of  280 Meeker Avenue CW Realty Management CEO Cheskie Weisz (CW Realty Management)

CW Realty to bring mixed-use project to troubled Williamsburg site

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO