Lightstone Group Picks Up East Village Residential Portfolio for $127M



Midtown East-based Lightstone Group has purchased a six-building, 181-unit residential portfolio in East Village for more than $127 million from Pan Am Equities, according to city records made public today.

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The addresses of the buildings are 112-120 East 11th Street, which sold for $52.1 million, and 85 East 10th Street, both between Third and Fourth Avenues, which traded for $75.4 million, public records indicate. 112-120 East 11th Street is comprised of five, five-story buildings with 75 units, while 85 East 10th Street is a six-story property with 106 apartments. 

The sale closed on April 21. News of the transaction was first reported by EV Grieve, but with a different price.

A representative for Lightstone Group did not immediately return a request for comment via a spokesman. An executive from Pan Am Equities declined to comment when reached by CO.