Black Spruce Management is in contract to buy the American Copper Buildings, a pair of luxury apartment towers in Manhattan's Murray Hill, for $850 million, a source tells GlobeSt.com. The sellers are JDS Development Group and Baupost Group and Cushman & Wakefield's Doug Harmon, Adam Spies, Adam Doneger, Marcella Fasulo and Michael Collins brokered the transaction.
C&W declined to comment to GlobeSt.com.
Once this transaction closes it will be one of the city's largest residential deals of 2021, in what has been an already robust period for this asset class.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
