Seth Bernstein Of AllianceBernstein Acquires Office Condos From Harvey M. Schwartz For $60.8M

AllianceBernstein acquired 29 office condo units at 866 United Nations Plaza in Turtle Bay, Manhattan. The sale transaction was valued at $60.8 million, translating to approximately 100,305 square feet at a price per square foot of $606.

Summary of transaction details:

• Property Type: Commercial Condos
• Transaction Amount: $60,800,000
• Buyer: Seth Bernstein - AllianceBernstein
• Seller: Harvey M. Schwartz - Carlyle Group

This transaction indicates a notable shift in ownership within the commercial real estate market, with Seth Bernstein representing AllianceBernstein and Harvey M. Schwartz representing Carlyle Group in the deal. The price of $60.8 million is closely aligned with a recent loan value of $61.2 million, hinting towards a deed-in-lieu of foreclosure arrangement.