Slate Property Group, KABR Group, and Avenue Realty Capital have jointly acquired 600 Columbus Avenue, a 14-story multifamily building in Manhattan’s Upper West Side. The property spans the block between 89th and 90th Streets and features 166 apartments, 27,500 square feet of retail space as well as 100 parking spots. Valued at $120 million this acquisition is the largest single multifamily purchase in New York City for 2023.
Martin Nussbaum – Principal at Slate Property Group – commented on the transaction: “Manhattan has exhibited strong multifamily dynamics over the past 24 months while also remaining one of the most undersupplied housing markets in America.” A loan from an affiliate of Apollo Global Management partially financed this acquisition to a tune of $68 million.
The partnership plans to implement capital improvements program that will enhance apartment interiors along with lobby hallways and common areas; additionally residents will gain access to upgraded amenities such as roof deck fitness center & resident lounge area . This transaction was facilitated by JLL represented by Bob Knakal’s team making it possible for these three companies to acquire 600 Columbus Ave for 120 Million dollars .
