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Brokerage
Posted: February 25, 2013
Tabibnia and Farchi of Azad Property orchestrate joint venture deal
Mansour Tabibnia and Barry Farchi, partners at Azad Property Group, orchestrated a second joint venture deal for the partnership portfolio of 17 walk-ups in the East Village. Kushner Companies along with an international real estate fund (who would like to remain anonymous), acquired the buildings from Westbrook Partners.
"This marks the second largest purchase in the last year by this joint venture partnership which has acquired a total of 29 buildings in the downtown area," said Tabibnia.
"We expect them to continue adding these walkups to their growing portfolio," said Farchi.
The mixed-use, 17-building package consisted of 264 apartment units and 24 stores, and the buildings span from 2nd to 13th St. along Avenue A.
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