NEW YORK CITY—The East Side Elevator portfolio—consisting offive trophy multifamily assets on the east side of Manhattan—hasbeen sold by Stonestreet Properties in two transactions with anaggregate value of over $126 million, according to Massey KnakalRealty Services, which handled the deal exclusively.
The portfolio features one property in the East Village, whichwas purchased by multifamily buyers Nader and Lisa Shalom. Theremaining four properties, which all are on the Upper East Side,were acquired by Trevi Retail, which is making its foray into theapartments space.
“We're seeing people go out of their comfort zone,” MasseyKnakal Realty Services chairman Bob Knakal—whoexclusively handled the transactions along with his firm's ThomasGammino Jr., Guthrie Garvin and Michael DeCheser—tells GlobeSt.com.“Trevi had bought only retail before but they liked the multifamilyspace.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
