Alcion Ventures with its partner Slate Property Group has acquired a 133-unit multifamily rental building near Union Square in New York City.
The sales price was $106.5 million, and the seller was Heller Realty.
Completed in the 1960s, the 13-story building has 116,294 square feet of space, including 5,100 square feet of ground-level retail space, and has an attached parking garage.
“Union Square is such a desirable location that it is extremely rare to buy a property of this size and potential,” said Helen Hwang, senior executive managing director and head of Meridian Capital Group’s institutional investment sales team.<
