Rose Associates partners with Morgan Stanley Real Estate Investing to recapitalize The Ellington
Manhattan, NY Rose Associates, Inc., has partnered with a fund managed by Morgan Stanley Real Estate Investing (MSREI) in the recent recapitalization of The Ellington, a multifamily standout on the west side.
“Rose Associates is pleased to have partnered with MSREI in this acquisition. By consolidating the ownership structure, we’ve positioned The Ellington for a very promising future,” said Marc Ehrlich, president of Rose Associates. “This transaction is the first in what we expect to be a series of acquisitions that combine Rose’s real estate capabilities with MSREI’s investment expertise.”
The Ellington is a 29-story multifamily rental located at 260 West 52nd St. in New York City. Built in 1987, the building offers 216 units in studio, one- and two-bedroom configurations, a 24-hour attended lobby and concierge service. Residents have access to a fitness center, private storage rooms and bicycle storage. The property is a short walk to Central Park and the Broadway theater district.