Stone Street Properties, a real estate investment firm recently formed by Gotham Organization alumnus Jeffrey Kaye and former Gumley Haft Kleier broker Robert Morgenstern, has acquired a small portfolio of five rental buildings in the East Village and the Upper East Side from Icon Realty Management, a representative from Icon confirmed. The deal, which has not yet hit public records, is valued at $90 million, Kaye said. Rockwood Capital is Stone Street’s equity partner in the deal, he said.
The buildings, located at 176 East 3rd Street, 420 East 66th Street, 404 East 88th Street, 336 East 81st Street and 344 East 85th Street, are all five- or six-story elevator buildings and have been renamed by Stone Street as the Jesse, the Chase, the Hudson, the Lily and the Emma respectively, according to the company website.
There were no brokers involved in the deal, Kaye said. … [more]