Prewar West Side Rental Fetches $150M

NEW YORK CITY-In the works since this past summer, the sale of the Chatsworth apartment tower on Manhattan’s Upper West Side closed just before year’s end, says Eastern Consolidated, which arranged the $150-million sale. The buyers were HFZ Capital Group and a partner, BSG Real Estate Ltd.

Prior to the 12-story, 139-unit prewar rental hitting the market last year, it had been owned by the same family for three generations. The Wall Street Journal reported that about half the apartments are rent-stabilized and the century-old Beaux Arts gem at 344 W. 72nd St. will need extensive renovations to command the kinds of rents seen in the neighborhood’s top-tier properties.