Aya buys UWS apartment building for $51M

A New York City investment firm has added a century-old Upper West Side apartment building to its growing portfolio of Manhattan properties.

Amir Shriki’s Aya Acquisitions purchased the 14-story 740 West End Avenue for $50.8 million from multi-generational owner Wolk Properties, according to city records filed Wednesday. Anne Fried signed for the seller.

The 135,000-square-foot building hit the market in November with an asking price of $55 million, or about $400 per square foot. JLL marketed the building for Wolk; the JLL team representing seller and buyer included Bob Knakal and Hall Oster.

Wolk, the property’s long-time landlord and operator, had invested in building upgrades over the past 20 years before putting it up for sale last fall. About 60 percent of the 95 residential units are rent-stabilized.
The apartments average about 1,000 square feet. The property also has 225 square feet of wraparound corner frontage at West 96th Street, including six commercial units.

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Aya’s purchase of 740 West End Avenue continues what has been a busy year of dealmaking for the investment firm. The company purchased a 25-unit, 21,000-square-foot building at 240 East 90th Street in Yorkville for $15 million from Sackman Enterprises. It also picked up a pair of properties, at East 89th Street and East 33rd Street, for $28 million.

The firm bought a 134-unit, 77,000-square-foot package of seven Manhattan apartment buildings for $44 million last month. The properties span the East Village, Gramercy, Alphabet City, Chelsea and the Upper East Side.

Shriki also operates the co-living firm Aya New York.