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Stanley Wasserman Under Contract for $300M-plus Multifamily Portfolio


Stanley Wasserman's S.W. Management is reportedly under contract to pick up a portfolio of multifamily buildings on the UES worth over $300M.

S.W., which owns properties scattered around Manhattan, Westchester and Queens, signed a contract last week for two buildings in Lenox Hill with 330 units in total and a development site with almost 85k BSF in development rights, The Real Deal reports.

The sites belong to a portfolio dating to the '60s and '70s built by Aghadjan “John” Elghanayan, whose family founded the development giants TF Cornerstone and Rockrose. The multifamily buildings, at 250 East 63rd St and 355 East 72nd St, first went on the market earlier in 2015. A team headed up by Cushman & Wakefield's Bob Knakal brokered the deal. [TRD]