Rockpoint Acquires UES High Rise for $218M With Wells Fargo Loan
By Damian Ghigliotty January 5, 2015 10:46 am
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Rockpoint Group acquired The Wimbledon, a 28-story apartment high rise on the Upper East Side, for $218 million, or $977,578 per unit, with a $115 million loan from Wells Fargo (WFC), city records show.
The Boston-based real estate investment firm purchased the luxury rental building at 200 East 82nd Street from J.P. Morgan Investment Management in a deal brokered by Darcy Stacom and Paul Liebowitz of CBRE (CBRE).
The acquisition and financing closed just before the new year, on Dec. 30, 2014, according to the deed and loan documents.
Jason Krane and Patrick Hanlon of Ackman-Ziff Real Estate Group brokered the loan from Wells Fargo, a person familiar with the deal told Mortgage Observer.
The 205,261-square-foot property, built a few blocks from Central Park in 1980, contains 223 apartment units and 6,200 square feet of ground-floor retail space occupied by a Citibank branch.
J.P. Morgan’s asset management arm bought The Wimbledon from New York-based investor P&H Associates for $150.4 million in 2008.
Rental prices at the property range from $3,500 a month to $15,000 a month, according to data from StreetEasy.
A representative for Rockpoint said the firm does not respond to media inquiries.
