NEW YORK CITY—Real estate investment firm Stonehenge NYC reports it has acquired The Bradford apartment building on the Upper West Side for $133 million.
The 171,000-square-foot property at 210 West 70th St. is a 15-story apartment building located between Amsterdam and West End avenues. The building built in 1924 was originally a hotel, but was converted to an apartment building in the 1950s. The building contains 171 apartments that range from studio to three-bedroom residences. The property also includes 13,072 square feet of retail and professional space.
Stonehenge states in a press announcement that it intends to implement an intensive building-wide capital improvements program which will include apartment renovations, lobby improvements, elevator upgrades and the addition of amenities.
"We are excited to add 210 West 70th St. to our portfolio," states Ofer Yardeni, CEO and chairman of Stonehenge. "The property fits perfectly with our strategy of creating value for our investors."
Stonehenge was represented by Robert Ivanhoe of Greenberg Traurig in the transaction. Adam Spies of Eastdil Secured brokered the deal.
Stonehenge NYC is a private real estate company engaged in investment management, property management, development, design, construction and leasing. Together with its investment partners, the firm's portfolio of properties in Manhattan is valued at approximately $3 billion and is comprised of 23 income-producing properties with more than 3,000 apartments.
Last month, Stonehenge announced that announced that Jodi Berman was appointed VP, leasing and marketing. Berman joined Stonehenge in October 2011 as a leasing manager and rose to the position of director of residential leasing.
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