Blackstone, Fairstead Sell Another Former Caiola Portfolio Building
The JV sold another of the buildings in the portfolio, 114 East 40th St., to the same buyer in November, for $27.5M. The buyer plans to renovate the fully market-rate building, according to The Real Deal.
Emerald Equities NYC’s Aliza Avital-Caplan brokered the sale of the East 30th Street building. The 22 buildings in the portfolio that Blackstone will retain have been branded Array Rentals, and will be leased by the brokerage MNS.