Pair of UES Resi Buildings Sell for $21M

A private equity firm based in the United Kingdom picked up a pair of Upper East Side residential buildings for $21 million.

 

The six-story walkups at 409-413 East 84th Street, between First and York Avenues, sold to Henley Investments for $21 million and contain 48 apartments across 31,000 square feet with 75 feet of frontage on East 84th Street, according to Besen & Associates‘ Dan Shapiro, who brokered the deal.

 

“We achieved a price that equated to a 2.6 percent going-in cap rate,” Shapiro said in a statement, “and there is tremendous value-add opportunity here for the purchaser.”

 

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