The Real Deal New York

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
By Christian Bautista | November 28, 2018 09:00AM

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.