Avison Young sells four buildings for $60.25 million for Page Management

 

 

 

 

Manhattan, NY Avison Young has arranged the sale of four buildings on behalf of Page Management. The properties consist of 236 West 15^th St., 253-255 West 11^th St., 82 Washington Pl., and 188-192 6^th Ave. in the West Village, Chelsea, and Soho. The buyer was Derby Copeland Capital.

The details of each property are:

• 82 Washington Pl., $15 million, 27,108 s/f, 36 units;

• 188-192 Avenue of the Americas, $24.1 million, 33,930 s/f, 59 units;

• 236 West 15^th St., $10.5 million, 17,154 s/f, 37 units; and

• 253-255 West 15^th St., $10.65 million, 19,680 s/f, 40 units.

Both buyer and seller were represented by James Nelson, David Shalom, Brandon Polakoff, Ryan McGuirl, and Alexandra Marolda, all based in Avison Young’s Manhattan office. The assets were owned by the same family for over 60 years.

“This was the first sale in more than 60 years for these buildings and we’re happy to get this across the finish line for our clients,” said Shalom.

The sale represents the ongoing trend of long-term owners of multifamily properties selling off their portfolios and the continued interest in flight to quality properties.