Stonehenge Partners Buying UWS Apartments for $135M
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Stonehenge Partners is under contract to buy The Bradford, a 15-story, 173-unit rental property at 210 West 70th St, for $135M. RREEF, Deutsche Bank’s real estate investment arm, owns the building now. The sale’s expected to close by year-end, and the building’s expected to remain a rental, according to The Real Deal.
Assuming the sale goes through, it’ll work out to about $770/SF. SL Green bought a 50% stake in Stonehenge’s 2.6M SF portfolio last year but there’s no word on whether Stonehenge is going it alone on this buy. Eastdil Secured’s Adam Spies and Douglas Harmon marketed the building as a possible condo conversion. [TRD]