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GID/CalPERS Do It Again

NEW YORK CITY—The JV has sold another multifamily property—in an off-market transaction on the Upper East Side—for a hefty price.

By Rayna Katz | Updated on April 01, 2014

NEW YORK CITY—For the second time in just a few months, GID and joint venture partner CalPERS have sold a Manhattan multifamily building on the Upper East Side in an off-market transaction—with both properties getting traded at a healthy price.

The two firms have unloaded the Wellington, a luxury building, for $240 million. The 115-unit property, located at 200 E. 62nd St. between Second and Third avenue, was purchased by another joint venture pair: O’Connor Capital Partners and HIG, according to industry sources. Blackstone provided debt for the deal, though GlobeSt.com could not ascertain an amount.

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