### A&E Real Estate Acquires Yorkville Apartment from Soloviev Group
A&E Real Estate has acquired Rivers Bend, a 22-story luxury rental apartment building in Manhattan’s Yorkville neighborhood, for $116.5 million. The purchase includes a 100% stake in the 179-unit property located at 501 E. 87th St., equating to approximately $547,000 per unit.
Originally built in 1963, Rivers Bend offers a range of high-end amenities, including a 24-hour attended lobby, a parking garage, and a rooftop terrace with a glass-enclosed swimming pool. Additional features include central air conditioning, an updated elevator system, a fitness center, spacious apartment layouts, and wood-burning fireplaces.
“We are pleased to complete this complex transaction, which required a collaborative approach by both parties over the past year,” said A&E Real Estate co-founder and CEO Douglas Eisenberg. “A&E’s acquisition of Rivers Bend reflects our unwavering commitment to New York City and our faith in the enduring strength of Manhattan’s market-rate residential sector.”
S. Charatan Realty founder and president Jack Bick represented Soloviev Group in the transaction.
