**GO Partners Sells 45% Stake in Upper East Side Luxury Residential Portfolio to RXR**
Toronto-based real estate investment firm GO Partners has sold a 45% interest in a luxury residential property portfolio located in Manhattan’s Upper East Side to RXR. The portfolio includes the 295-unit high-rise at 265 East 66th Street and 20 surrounding townhouses, with the transaction valuing the assets at approximately $435 million.
Despite the sale, GO Partners will retain majority ownership of the properties, while GO REIT will continue to manage the 1980s-era luxury rental tower.
“This transaction is indicative of the institutional demand for large high-rise (LHR) assets located in the borough of Manhattan and the longer-term outlook of this market,” said Meyer Orbach, Chair of the Board of Trustees of GO REIT. “Despite this clear signal from the market, GO REIT continues to trade at a significant discount to its intrinsic value.”
The deal was brokered by Adam Spies and Adam Doneger of Newmark. GO Partners originally acquired the property portfolio in 2023 for $425 million, as part of a broader multifamily transaction involving real estate investor Stefan Soloviev.
