New York and Pennsylvania Rental Units Change Hands

NEW YORK CITY-The Orbach Group has paid $70 million to buy two multifamily portfolios located in New York City and Pennsylvania.

By GlobeSt News Hub | November 13, 2012 at 01:01 AM

NEW YORK CITY-The Orbach Group has paid $70 million to buy two multifamily portfolios located in New York City and Pennsylvania. The six-building Manhattan portfolio comprising 105 units was sold for $30 million. Five buildings are situated on Amsterdam Avenue, while the sixth property is located at Cathedral Parkway off Columbus Avenue.

The Pennsylvania portfolio comprising 527 units was sold for $40 million. It includes a Bensalem apartment complex featuring 352 units and a Norristown apartment complex consisting of 175 units. For the full story, go to Commercial Property Executive .

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