New York

Manocherians sell six UES rental buildings for $48M

Buyer S.W. Management gains control of 150 units

Aaron Jungreis And <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/427-East-83-Street-New-York-NY-10028/1015630011-0" target="_blank" data-address="427%20East%2083%20Street%2C%20New%20York" data-label="427%20East%2083rd%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F427-East-83-Street-New-York-NY-10028%2F1015630011-0" data-bbl="1015630011" data-blockValue="01563" data-lotValue="0011" data-zipcode="10028" data-bldgArea="36%2C920" data-bldgDepth="85" data-bldgFront="25" data-landUse="Multifamily%20walk-up%20buildings" data-lotArea="10%2C217" data-lotFront="100" data-lotDepth="102.17" data-retailArea="0" data-resArea="36%2C920" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="C1" data-primaryZoning="R8B" data-commercialOverlay="" data-far="4" data-buildable="40%2C868" data-airRights="3%2C984" data-propertyNeighborhood="Yorkville" data-latitude="40.7746531538544" data-longitude="-73.949551648231" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F427-East-83-Street-New-York-NY-10028%5C%2F1015630011-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F427-East-83-Street-New-York-NY-10028%5C%2F1015630011-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">427 East 83rd Street</a> (Credit: PropertyShark)

Aaron Jungreis And 427 East 83rd Street (Credit: PropertyShark)

UPDATED, 3:29 p.m., May 1: Pan-Am Equities, owned by members of the prominent Manocherian family, has sold six Upper East Side rental apartment buildings for $47.8 million, according to property records filed with the city today.

Pan-Am sold three contiguous  five-story buildings on East 81st Street (413-417 East 81st Street) for $13.3 million and three contiguous five-story buildings on East 83rd Street (427-431 East 83rd Street) for $26.5 million. The buildings contain 150 rental apartments in total, several of which are rent-stabilized.

The buyer was New Rochelle-based property manager S.W. Management. Rosewood Realty Group’s Aaron Jungreis brokered the deal.

In March, Pan-Am paid $48.2 million for two commercial condos at 140 East 63rd Street, which total about 45,000 square feet of space, as TRD reported.

The Manocherians are among the Persian families – such as the Elghanayans and the Kalimians — who rose to prominence in New York real estate during the 1970s. Representatives for Pan-Am Equities and S.W. weren’t immediately available for comment.

Correction: A previous version of the story misstated the total purchase price for the package. It was $47.8 million.

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New York

Manocherians sell six UES rental buildings for $48M

Buyer S.W. Management gains control of 150 units

Aaron Jungreis And <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/427-East-83-Street-New-York-NY-10028/1015630011-0" target="_blank" data-address="427%20East%2083%20Street%2C%20New%20York" data-label="427%20East%2083rd%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F427-East-83-Street-New-York-NY-10028%2F1015630011-0" data-bbl="1015630011" data-blockValue="01563" data-lotValue="0011" data-zipcode="10028" data-bldgArea="36%2C920" data-bldgDepth="85" data-bldgFront="25" data-landUse="Multifamily%20walk-up%20buildings" data-lotArea="10%2C217" data-lotFront="100" data-lotDepth="102.17" data-retailArea="0" data-resArea="36%2C920" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="C1" data-primaryZoning="R8B" data-commercialOverlay="" data-far="4" data-buildable="40%2C868" data-airRights="3%2C984" data-propertyNeighborhood="Yorkville" data-latitude="40.7746531538544" data-longitude="-73.949551648231" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F427-East-83-Street-New-York-NY-10028%5C%2F1015630011-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F427-East-83-Street-New-York-NY-10028%5C%2F1015630011-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">427 East 83rd Street</a> (Credit: PropertyShark)

Aaron Jungreis And 427 East 83rd Street (Credit: PropertyShark)

UPDATED, 3:29 p.m., May 1: Pan-Am Equities, owned by members of the prominent Manocherian family, has sold six Upper East Side rental apartment buildings for $47.8 million, according to property records filed with the city today.

Pan-Am sold three contiguous  five-story buildings on East 81st Street (413-417 East 81st Street) for $13.3 million and three contiguous five-story buildings on East 83rd Street (427-431 East 83rd Street) for $26.5 million. The buildings contain 150 rental apartments in total, several of which are rent-stabilized.

The buyer was New Rochelle-based property manager S.W. Management. Rosewood Realty Group’s Aaron Jungreis brokered the deal.

In March, Pan-Am paid $48.2 million for two commercial condos at 140 East 63rd Street, which total about 45,000 square feet of space, as TRD reported.

The Manocherians are among the Persian families – such as the Elghanayans and the Kalimians — who rose to prominence in New York real estate during the 1970s. Representatives for Pan-Am Equities and S.W. weren’t immediately available for comment.

Correction: A previous version of the story misstated the total purchase price for the package. It was $47.8 million.

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