Search
 

Multifamily Portfolio Sells for $102M

NEW YORK CITY-The five-building acquisition includes 36 Grammercy Park East, a residential building that new owner Maurice Mann tells GlobeSt.com is "the last remaining rental property on all four sides of Grammercy Park.

By Glen Thompson | Updated on January 08, 2003

NEW YORK CITY-Buyer Maurice Mann is calling the Cosmopolitan Portfolio acquisition last year’s biggest multifamily real estate transaction, though the deal didn’t officially close until Jan. 2. In any case, the $102-million transaction includes five buildings–two on the West Side, two on the East Side and one right on Gramercy Park.

Mann, president of Mann Realty Associates, tells GlobeSt.com, “What’s realty interesting about it is that these are five superbly located buildings.” In addition, the 36 Grammercy Park East building, “the crown jewel of the portfolio, is the last remaining rental property on all four sides of Gramercy Park.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.