NEW YORK CITY—Acadia Realty Trust and O'Connor Capital Partners have purchased a mixed-use retail, office and parking property on the Upper East Side. Through its fund platform, the joint venture put up $51 million to buy the Wellington House, on Third avenue.
The CBRE retail team of Michael Kadosh, first VP, and Gary Trock, SVP, completed the transaction for both parties.
“Having been involved in the leasing of this property, we had a great understanding of the market and were able to create an off-market transaction for both parties,” says Trock.
Constructed in 1967, the Wellington House is listed at three addresses: 200-206 E. 62nd St.; 203 E. 61st St. and 1033-1049 Third Ave. The commercial space occupies the ground and second floor and the garage.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
