In one of New York City's largest single residential portfolio sales in the past decade, Blackstone—headed by Jon Gray (pictured)—and Fairstead Capital have joined forces to purchase 24 mid-rise Manhattan apartment buildings for $690M. The 997-unit portfolio is in and around Chelsea and the UES. It was previously managed by B&L Management and sold by the Caiola family. Plans for the property include upgrading the common spaces, adding new amenities and renovating. [CoStar]
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