A joint venture led by Canvas Property Group is acquiring a Manhattan apartment complex for $104.5 million.
Known as 210-220 East 22nd St., the asset features 204 rentals in the Gramercy Park area. The 100 percent fair market property consists of 39 two-bedroom apartments, 75-one bedrooms, eight three-bedrooms, and 82 studios. About half of the units have completed renovation, with occupancy at the apartments at 95 percent.
The site features two adjoining buildings that share a ground floor. Plus, both have amenities including a fitness center, extra laundry facilities on each floor, and a residential lounge. Additionally, the renovated apartments come with their own washer and dryers, walk-in closets, stainless steel appliances, arched ceilings, granite countertops, and some feature private terraces.
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