According to Ofer Yardeni and Joel Seiden, the principals of Stonehenge, capital was raised from a "consortium of investors" including CDP Capital--Real EstateAdvisory. The site is located at 120-160 West 97th St., 135West 96th St. and 753 Amsterdam Ave. It is comprised of 418 residential units, a 38,000-sf garage and a two-story commercial property located on the corner of 97th Street and Amsterdam Avenue. "This is the deal of my life," says Yardeni. "It's exciting to be creating value."

The principals say this acquisition continues the growth pattern for the firm which recently acquired the Pennmark, a 600,000-sf mixed-use property locatedon 34th Street between Eighth and Ninth avenues for $240 million. The site near Penn Station includes some retail as well as a movie theater. The company also acquired 120 West 86th St. and last year, Stonehenge plunked down $20.5 million for a West Village multifamily property. Time Equities had paid $16 million for the site a year prior.

The firm is not limited to the city alone. In a joint venture with Swig Burris Equities, the company recently acquired 450 Sansome St., a 132,000-sf, 16-story office property in San Francisco's north financial district for approximately $28 million.