Friday, April 26, 2013

HFF closes sale of Upper West Side multi-housing property



166 West 75th Street, Upper West Side
 Manhattan, NY
Jeffrey Julien
NEW YORK, NY – HFF announced today that it has closed the sale of 166 West 75th Street, a 207-unit multi-housing property with 3,425 square feet of ground floor retail on Manhattan’s Upper West Side.

                HFF marketed the property exclusively on behalf of the seller. 

KC Patel
                166 West 75th Street is located near the intersection of Amsterdam Avenue and 75th Street close to Central Park, Riverside Park, Lincoln Center, and the 72nd Street Subway Station. 

The property is 16 stories and includes market-rate, rent-stabilized, SRO and vacant units.   Simon Development Group purchased the asset and intends to renovate the property.

Andrew Scandalios
                The HFF team representing the seller was led by managing director Jeff Julien, director KC Patel, senior managing directors Andrew Scandalios and Jose Cruz and managing director Kevin O’Hearn.

                “We are excited to add 166 West 75th to our portfolio,” said Matthew Baron, principal of Simon Development Group.

Jose Cruz
                “This was a value-add multi-housing opportunity in an outstanding location and garnered substantial interest,” added Julien.
Kevin O'Hearn

                Simon Development Group develops, owns, manages and asset manages a diverse portfolio of residential, hotel, retail and industrial space. 

To date, the current portfolio includes 13 buildings containing approximately 1,000 residential units, a roster of national retail stores, a soon to be built 260 room, 30-story, boutique hotel and 160,000 square feet of commercial space.  The properties are located throughout New York City.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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