Sitt Nabs UWS Residential Building for $41.5M [Updated]
By Lauren Elkies Schram September 29, 2014 2:58 pm
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Joseph Sitt‘s Thor Equities and GreenOak have purchased the 10-story prewar apartment building at 150 West 82nd Street for $41.5 million, property records indicate.
The 58-unit rental building between Columbus and Amsterdam Avenues has 34 market-rate units, according to Crain’s New York Business, which reported the deal when it went into contract.
The purchase, from Mann Realty Associates, closed on Sept. 22 and appeared in public records this past Friday.
“We are very excited to add another tremendous Upper West Side rental property to our growing portfolio,” said Alan Klein, a principal at Thor Residential, in a statement. “We firmly believe in the long-term value inherent in this vibrant and historic, supply-constrained community.”
The building is expected to receive individual unit upgrades and remain a rental.
Jake Blatter and Aaron Jungreis of Rosewood Realty represented the buyers in the deal and Ami Efrati of Entrepreneur Properties represented Mann.
Maurice Mann, the chief executive officer of Mann Realty Associates, was out of town and unavailable to comment, his assistant said.
Update: This story was edited to include a comment from Thor Equities as well as the names of the brokers on the deal.
