Leibowitz, Stacom, Shanahan and Garrish of CBRE broker $68.3 million sale; 393 West End Avenue sold to Simon Development and Cube Capital

CBRE, Inc. has completed the $68.3 million sale of 393 West End Ave., a 134,000 s/f residential building on the Upper West Side to Simon Development Group and Cube Capital, on behalf of the seller, 393 West End Avenue Holdings, LLC. The 113-unit apartment building is a pre-war building at the corner of West 79th St. Apartments in the building feature large layouts and offer opportunities to combine into larger units. "The 393 West End Ave. transaction met the new owner's objectives by delivering a superior Upper West Side corner location combined with potential upward repositioning," said Paul Leibowitz, executive vice president, CBRE. "We are excited to acquire an asset of this caliber in such a fantastic location," said Matthew Baron, principal, Simon Development Group. "393 West End Ave. is a great addition to our portfolio and we are pleased to have worked with the CBRE team on this successful transaction." In addition to Leibowitz, Darcy Stacom and Bill Shanahan, both vice chairman at CBRE, and Robert Garrish, first vice president, arranged the transaction.