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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

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

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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.

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Blackstone GroupCommercial Real EstateInvestment Sales