Printer Friendly

698 West End Avenue sold.

Eastern Consolidated Properties, Inc. announces the recently concluded sale of 698 West End Avenue, a classic pre-war elevator apartment building at the southeast corner of 94th Street.

The purchase of this 15-story, 90-unit building represented an unusually attractive investment opportunity in that it is one of the few large prime apartment buildings that escaped the conversion boom of the 1980's. 698 West End Avenue had been owned by a single family trust for almost twenty years. James Development, a New York City-based owner/development firm, purchased the property in an all cash transaction that took over a year to complete. The new ownership plans to operate the property as a rental building.

Deborah L. Gutoff, a senior vice president with Eastern Consolidated, represented, as the broker, both the purchaser and the seller in the sale. Belinda Schwartz, Esq., a partner in the real estate department of Wien, Malkin & Bettex, represented the purchaser. Myron Cohen, of Dornbush, Mensch, Mandelstam & Schaeffer, represented the seller. A new first mortgage has been placed on the building with a New York City-based savings bank.
COPYRIGHT 1993 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:apartment building in New York, New York
Publication:Real Estate Weekly
Date:Jul 14, 1993
Previous Article:ESG finds new home for 'Barney.' (Edward S. Gordon Company Inc. brokers lease of commercial space for Happiness Express Inc., licensee of Barney the...
Next Article:Management company formed for MONY-owned properties.

Related Articles
$16.5M in sales at Trump Plaza.
Eastern off to record start with $32M in sales.
For William B. May Co., 1995 was a record year.
The deal just keep on coming!
Eastern sells large Upper West Side portfolio.
Developer Joseph Moinian's magic touch.
GCP Capital Group LLC.
Besen & Associates, Inc.
42nd St. space goes to Garrick-Aug. (Retail New York).
Zeckendorf's 15 Central Park West reaches $1.1b milestone.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters