GO Partners Acquires Multifamily Portfolio From Solow Building Company On Upper East Side For $825M

The multifamily property located at 420 E 61st Street, 1113 York Avenue, and 525 East 72nd Street on the Upper East Side has been sold in a closed transaction. The property consists of 858 units with a total square footage of 850,000. The sale price for this transaction was $825,000,000, resulting in a price per unit of approximately $962,000 and a price per square foot of $970.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $825,000,000
• Units: 858
• Price Per Unit: $962,000
• Square Footage: 850,000
• Price Per Square Foot: $970
• Market: Upper East Side

The buyer of the property is GO Partners, while the seller is Solow Building Company. The deal was facilitated by brokers Rob Hinckley, Jeffrey Julien, Andrew Scandalios, Steven Rutman, John Taylor, and Scott Panzer from JLL. JLL served as the exclusive sales representative for the seller, and they also provided advice on the capital stack for the purchaser. It's worth noting that this transaction is part of a larger portfolio sale that included the earlier sale of 685 1st Avenue.

For any further inquiries or questions regarding this transaction, please reach out to the deal team at JLL.