CIM Group Acquires Rental Units/Garage On UES From Crescent Heights For $200M

The property at 165 E 66th St in the Upper East Side (UES) was recently sold in a transaction involving rental units and a garage. The sale was completed on 04/12/2019 for a total price of $200 million, resulting in a price per unit of $1,315,789. The property consists of 152 units.

Summary of transation details

• Property Type: Rental units/ Garage
• Transaction Amount: $200M
• Address: 165 E 66th St
• Market: UES
• Buyer: CIM Group
• Seller: Crescent Heights

The deal was facilitated by the brokers involved in the transaction. Bunny Escava and Nicholas Wiggins from KSR, along with Joe Koicim from Marcus & Millichap, represented the buyer and seller. Their expertise and negotiation skills played a role in bringing the transaction to a successful close.