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Avison Young sells four buildings in Manhattan for a combined $60.25M

Avison Young sells four buildings in Manhattan for a combined $60.25M April 5, 2024

The properties are comprised of 165 residential apartments and six commercial spaces across 97,872-sf

New York, NY – Avison Young has arranged the sale of four buildings in Manhattan on behalf of Page Management. The properties consist of 236 West 15th Street, 253-255 West 11th Street, 82 Washington Place, and 188-192 6th Avenue in the West Village, Chelsea, and Soho, respectively. The buyer was Derby Copeland Capital.

The details of each property are as follows: 82 Washington Place, $15 million, 27,108-sf, 36 units; 188-192 Avenue of the Americas, $24.1 million, 33,930-sf, 59 units; 236 West 15th Street, $10.5 million, 17,154-sf, 37 units; and 253-255 West 15th Street, $10.65 million, 19,680-sf, 40 units.

Both buyer and seller were represented by James Nelson, David Shalom, Brandon Polakoff, Ryan McGuirl, and Alexandra Marolda, all based in Avison Young’s Manhattan office. The assets were owned by the same family for over 60 years.

“This was the first sale in more than 60 years for these buildings and we’re happy to get this across the finish line for our clients,” said Shalom.

The sale represents the ongoing trend of long-term owners of multifamily properties selling off their portfolios and the continued interest in flight to quality properties.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

For more information:

  • Download property photos here.

Media contact:

  • Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697