Ditmas Management buys UES resi building for $55M

The firm is funding the purchase with an $11M Capital One loan

New York /
Nov.November 07, 2018 12:15 PM

160 East 89th Street (Credit: Google Maps)

Long Island-based multifamily owner Ditmas Management bought an apartment building in the Upper East Side for $55.1 million.

The property, at 160 East 89th Street, is an eight-story rental building that spans 64,000 square feet. It contains 51 apartment units and is just a few blocks away from Central Park.

The seller is a partnership headed by William J. Diamond, who appears to be the former commissioner of the New York City Department of Citywide Services, according to a 1996 wedding announcement in the New York Times. Diamond, who served under the Giuliani administration, has since gone on to become a politician in Florida, serving as a town councilman in Palm Beach. A 2007 application filed with the city’s Department of Buildings for the construction of the building’s penthouse glass conservatory was notarized in Palm Beach.

Ditmas Management owns multifamily properties in Manhattan and Brooklyn. Its assets include 347-351 East 58th Street, a trio of five-story residential buildings in Sutton Place, and 477 3rd Street, a 20-unit apartment building in Park Slope.

The firm is funding the purchase with an $11.3 million loan from Capital One. Ditmas’ Aaron Sirulnick, the signatory in the deed, did not immediately return requests for comment, and Diamond could not be reached for comment.

A CBRE team led by Dan Kaplan represented the seller. The broker declined to comment on the deal.


Related Articles

arrow_forward_ios
Jared Kushner and 666 Fifth Avenue (Getty, David Shankbone, CC BY 2.5 - via Wikimedia Commons)
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Congress probes Jared Kushner’s dealings amid 666 Fifth Avenue sale
Arthur Zeckendorf and Gary Barnett with 1289 Lexington and Central Park Tower (Terra holdings, Getty, RODE, Central Park Tower)
The bargain hunters: Buyers target cheaper new development units
The bargain hunters: Buyers target cheaper new development units
Gary Barnett with Central Park Tower (Getty)
Central Park Tower condo sells for $20M off asking
Central Park Tower condo sells for $20M off asking
Doma CEO Max Simkoff (Getty Images, YouTube/Berkeley Haas, Doma)
Title insurer Doma cuts 40% of workforce in third wave of layoffs
Title insurer Doma cuts 40% of workforce in third wave of layoffs
Council member Pierina Ana Sanchez and RSA’s Joseph Strasburg (Getty; Twitter)
Citing Bronx fire, Council pushes building violation crackdown
Citing Bronx fire, Council pushes building violation crackdown
SB Development’s Joseph Stern and Northwind’s Ran Eliasaf with rendering of Nova (LinkedIn, NOVA)
SB Development, Hazelton Capital score $62M loan for LIC condo tower
SB Development, Hazelton Capital score $62M loan for LIC condo tower
Illustration of Mayor Eric Adams (Getty; Illustration by Kevin Rebong for The Real Deal)
Oh, rats! Eric Adams contests summons for infestation
Oh, rats! Eric Adams contests summons for infestation
Libbie Mugrabi and Mitchell Holdings's David Mitchell with 320 East 82nd Street (Getty, Google Maps; Illustration by Kevin Rebong for The Real Deal)
Park Mansion owner struggles to collect $1.5M in rent from evicted socialite
Park Mansion owner struggles to collect $1.5M in rent from evicted socialite
arrow_forward_ios

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

Loading...