Here’s what the $10M-$20M NYC investment sales market looked like last week

Blackstone and Fairstead sell another piece of the Caiola portfolio, Highpoint buys in Brooklyn

TRD New York /
Nov.November 28, 2018 09:00 AM

From left: Blackstone’s Jon Gray (red), 417 East 83rd Street, and CBRE’s Steve Siegel (blue) (Credit: Blackstone and CBRE)

In the world of mid-market New York City investment sales last week, Blackstone Group and Fairstead Capital sold another piece of the Caiola portfolio and Highpoint bought three apartment buildings in Brooklyn.

1.) Blackstone and its partner Fairstead sold another piece of the Caiola portfolio. The property, at 417 East 83rd Street, is a six-story, 25-unit apartment building between First and York Avenue. The building changed hands in a $10 million deal. The buyer is the Haimof Group, which is funding the purchase with a $7.3 million mortgage from Signature Bank.

2.) Highpoint Property Group bought three apartment buildings in Cobble Hill for $16 million. The properties, at 86-92 Atlantic Avenue, are walk-up apartment buildings with a total of 30 units, according to city data. The seller is Georgia-based investor Vernon Starr. Highpoint is funding the acquisition with a $15 million loan from Los Angeles firm Thorofare Capital.


Related Articles

arrow_forward_ios
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

Here’s what the $10M-$30M NYC investment sales market looked like last week
102 Prince Street and Jho Low (Credit: Modlin Group; Low by Michael Loccisano/Getty Images for New York Times)

Jho Low’s former Soho condo sells at a discount

Jho Low’s former Soho condo sells at a discount
(Credit: iStock)

Loan applications to buy homes rise for fifth week

Loan applications to buy homes rise for fifth week
For the first time in six weeks, the number of Manhattan homes that went into contract increased. (Credit: iStock)

Manhattan home deals jumped 52% last week

Manhattan home deals jumped 52% last week
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
An institutional investor’s sale of a 7 percent stake in an exchange-traded real estate fund reveals deep concerns about the sector. (Credit: iStock)

Mystery investor dumps big stake in real estate fund

Mystery investor dumps big stake in real estate fund
Joseph Chetrit and 118 East 76th Street (Credit: Sylvain Gaboury/Patrick McMullan via Getty Images, Google Maps)

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week
Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
arrow_forward_ios

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

Loading...