Isaac Kassirer buys four more uptown buildings for $40M

Developer has purchased quartet of Harlem properties from Galil Management

May.May 03, 2019 01:03 PM
Isaac Kassirer with 120 West 116th Street and 1917 Adam Clayton Powell Boulevard (Credit: Apartments)

Isaac Kassirer with 120 West 116th Street and 1917 Adam Clayton Powell Boulevard (Credit: Apartments)

Isaac Kassirer is not done with his Northern Manhattan buying spree yet.

His firm Emerald Equity has purchased a quartet of multifamily buildings from Galil Management in Harlem for a total of $40 million, according to property records and sources familiar with the deal. The properties are located at 120 West 116th Street, 110 West 116th Street, 1917 Adam Clayton Powell Boulevard and 110 St. Nicholas Avenue.

Kassirer financed the deal with $30.6 million from Ladder Capital Finance. Steven Vegh brokered the deal for both sides and declined to comment on it.

Galil purchased the properties in 2014 for a total of $29.5 million

The building at 120 West 116th Street stands six stories tall with 42 units, and the building at 110 West 116th Street stands five stories tall with five units. The Adam Clayton Powell building stands seven stories tall with 39 units, and the St. Nicholas Avenue building stands five stories tall with 11 units.

Kassirer has been extremely active on the market as both a buyer and a seller in recent years. Last year, he flipped 838 West End Avenue to Akelius for $72 million and sold a quartet of Bronx multifamily buildings to a private family for $25 million. He also bought a four-building portfolio on the Upper West Side from Orbach for $116 million and a 21-building Harlem portfolio from E&M for $85 million last year.

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