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GID Bites Into More Big Apple Residential

GID Bites Into More Big Apple Residential


Boston-based GID has expanded its NYC portfolio, snapping up The Ashley and The Aldyn--sister residential towers built in 2010--from Carlyle and Extell. GID's Windsor Property Management arm had already been handling leasing for the building; The Ashley is 209 rentals, while The Aldyn is 136 rentals and 150 condos. HFF's Andrew Scandalios (who marketed the properties with colleagues Jose Cruz, Jeff Julien, Kevin O'Hearn, and Matthew Lawton) tells us the interested buyers were mostly institutional and foreign investorsjust the type willing to pay top dollar, especially for new construction that's now stabilized. That brings GID's properties--which span 97 properties in 16 states--to seven in Manhattan and three more in the NYC metro (White Plains, Jersey City, and Edgewater, NJ).