Kips Bay Court | The Real Deal New York

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Kips Bay Court

500 Second Avenue
New York, NY 10016
Website
Retail, Residential, Leasing/Rental, Multifamily

Kips Bay Court, formerly known as Henry Phipps Plaza West, is a complex of 8 buildings on Second Avenue from 26th to 29th Street. Kips Bay Court includes the addresses 460 Second Avenue, 470 Second Avenue, 480 Second Avenue, 484 Second Avenue, 490 Second Avenue, 500 Second Avenue, 510 Second Avenue and 520 Second Avenue. The development was completed in 1975 by Phipps NY as a part of the state's Mitchell-Lama program, which provides incentives to developers for building low to middle income housing. Kips Bay Court has 894 apartments and is currently undergoing renovation to modernize the complex. In June of 2016, it was announced that the complex will be marketed for sale by CBRE's Darcy Stacom.

  • Address 500 Second Avenue
  • neighborhood Kips Bay
  • borough Manhattan
  • owner Wafra Group
  • owner entity BELLEVUE SOUTH ASSOCIATES, L.P.
  • floors 28
  • Year Built 1975
  • residential units 894
  • commercial units 8
  • total units 902
  • square feet 829,024
  • block and lot 1-00934-0001
  • BIN 1082729

12/31/18
...s Blackstone Property Partners – the fund that owns Kips Bay Court and Stuyvesant Town – swooped in and purchased the largest piece of the portfolio for...

12/24/18
...to large complexes like Stuy Town, Parker and Kips Bay Court, Blackstone owns a smattering of rental buildings in Chelsea and the Upper East Side...

09/11/18
...is making the investment. The fund also owns Kips Bay Court and Stuyvesant Town in Manhattan. Parker Towers is located in Forest Hills and consists...

01/25/18
...top sale for 2016 — Blackstone’s $620 million purchase of Kips Bay Court — and 2015 — Blackstone and Ivanhoe Cambridge’s $5.3 billion purchase of Stuyvesant Town-Peter Cooper Village. The...

09/06/17
...District, and a management consultant for Blackstone Group's Kips Bay Court complex. MacArthur told the newspaper his company and Rockpoint were “committed to preserving the...

03/15/17
...near term on Class B apartments such as Kips Bay Court and Stuyvesant Town-Peter Cooper Village. The latter deal, he said, worked out to about...

02/23/17
...biggest deal was Blackstone Group's $620 million purchase of Kips Bay Court from Phipps Houses...

02/22/17
...the Caiola portfolio. Blackstone paid $620 million for the Kips Bay Court complex, in what was the priciest multifamily deal of 2016. Fairstead, meanwhile, bought Savoy Park...

02/03/17
...Blackstone Group’s purchase of the eight-building, 894-unit Kips Bay Court for $620 million. Also in Midtown East, Slate Property Group and GreenOak Real Estate bought...

01/30/17
...the local council member. Last month, Phipps sold Kips Bay Court -- an 894-unit complex in Manhattan that it developed in 1975 -- to Blackstone Group...

01/26/17
...was Blackstone’s purchase of the roughly 900-unit Kips Bay Court at 520 Second Avenue for $620 million. In Northern Manhattan, the market was the opposite of...

01/26/17
...Ivanhoe Cambridge in 2015, the firm last month bought Kips Bay Court for $620 million. On Monday, news broke that Blackstone is preparing a new, $5 billion-plus Asian...

01/13/17
...of them being Blackstone Group’s acquisition of Kips Bay Court for $620 million, or $687,361 per unit. In Northern Manhattan, four multifamily sales in Washington Heights...

12/29/16
...multifamily deal – Blackstone Group’s $620 million purchase of Kips Bay Court – came in 12th. Overall, though, there was a definite slowdown in the city’s...

12/16/16
...multifamily deal of the year so far is Kips Bay Court, an eight-building complex that Blackstone Group recently bought for $620 million...

12/12/16
...a rōnin, a Secret Service badge and Kips Bay Court The first scene from Akira Kurosawa's 1961 classic “Yojimbo” shows a warrior tossing a stick...

12/08/16
...Kips Bay Court and Jonathan Gray UPDATED, 1:17 p.m., Dec. 13: In the largest New York City multifamily...

12/02/16
...approaching closing: Blackstone Group’s $620 million purchase of Kips Bay Court and Isaac Kassirer’s purchase of the Dawnay Day portfolio for north of $350 million...

...top-shelf multifamily buildings. This year, Dermot bid on Kips Bay Court, an eight-building, 894-unit complex. Blackstone Group, which famously paid $5.3 billion for Stuyvesant Town-Peter Cooper...

11/14/16
...Kips Bay Court and Stuyvesant Town (inset: Andrew MacArthur) Andrew MacArthur, a former executive at CWCapital Asset...

10/26/16
...has done by picking up Stuyvesant Town and Kips Bay Court. What are the most surprising trends you’re seeing with REITs that invest in...

...has done by picking up Stuyvesant Town and Kips Bay Court. What are the most surprising trends you’re seeing with REITs that invest in...

08/23/16
...Kips Bay Court and Blackstone Group's Jonathan Gray To finance its $620 million purchase of Kips Bay Court...

08/22/16
...From clockwise: Andrew Cuomo, Kips Bay Court and Jonathan Gray, Wendy Maitland and the Hasidic investors and developers of Brooklyn (Paydirt...

08/17/16
...Kips Bay Court and Jonathan Gray Blackstone Group is finalizing a deal to purchase the 894-unit market-rate...
  • Event Sales
  • Address 520 Second Ave
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 8
  • Price $ 620,000,000
notes
The eight-building, 894-unit complex was sold for $620 million.

isalesdecfeature
02/23/17
...biggest deal was Blackstone Group's $620 million purchase of Kips Bay Court from Phipps Houses...

12/29/16
...multifamily deal – Blackstone Group’s $620 million purchase of Kips Bay Court – came in 12th. Overall, though, there was a definite slowdown in the city’s...