L&M And Invesco Acquire 2,800 Units In Upper Manhattan For $1.2B

An extensive property portfolio in Upper Manhattan has recently changed hands, with several notable properties being sold in a closed transaction. The deal, valued at $1,200,000,000, involved a multifamily property comprising 2,800 units, resulting in an average price per unit of $428,000. The properties included in the sale are located at 1940 1st Ave, 552 Main, 1205 Fifth, and 1990 Lex, all situated in the Upper Manhattan market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,200,000,000
• Number of Units: 2,800
• Price Per Unit: $428,000
• Seller: Brookfield, Urban American
• Buyer: L&M, @InvescoUS
• Brokers: @CushWake

The significant individuals and companies involved in this transaction include Adam Spies, Adam Doneger, Doug Harmon, Marcella Fasulo, Josh King, Michael Collins, Ron Moelis, and Ric Clark. While the article does not mention the specific roles of these individuals, it is evident that they played a crucial part in facilitating the successful completion of the deal. The brokerage firm @CushWake represented the involved parties throughout the transaction, ensuring a smooth process for the buyers and sellers.