New York City multi-housing community sells for $387m

Solow Building Company has closed the sale of a $387.5 million multi-housing community comprised of 408 market-rate units and 9,693 square feet of commercial space located at 685 1st Ave. in the Murray Hill neighborhood of Manhattan.

JLL exclusively represented the seller and procured the buyer, GO Partners, a joint venture between Josh Gotlib and Meyer Orbach. GO Partners additionally brought in other syndicated private partners and procured financing from a relationship bank.

Built in 2018, the 43-story, 460-foot-high community consists of 408 rentals on the lower 27 floors and 148 one- to four-bedroom condominiums on the top 16 floors.  Community amenities include a fitness center, swimming pool, co-working lounge, media room, valet parking, cold storage and a children’s playroom.

Situated in Murray Hill, the community is located just south of the United Nations Headquarters along the East River. The building offers expansive views of New York