Investors - FEBRUARY 23, 2015

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NYC apartment portfolio sells for $360m

by Andrea Waitrovich

A&E Real Estate has purchased an apartment portfolio from a joint venture between Dermot Co. and Principal Real Estate Investors. Real Capital Analytics estimates the sales price was $360 million.

The portfolio consists of 32 buildings, totaling 1,000 units, across three boroughs. There are 19 buildings in Brooklyn, 10 in Manhattan and three in Queens. Of the Manhattan properties, eight are in Morningside Heights and two are in the East Village, according to Real Deal.


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