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Kalikow buildings sell for $18M.

Stanley Wasserman and family closed a deal last week to purchase for $18 million a parcel on York Avenue between 78th and 79th Street that contains nine of the City & Suburban apartment buildings formerly owned by Peter Kalikow.

Wasserman made the winning bid for the landmark buildings at a foreclosure auction in State Supreme Court on July 9 and the deal closed Aug. 9, according to Wasserman's attorney in the transaction. Issac Kaplowitz.

The buildings, financed for Kalikow by Manufacturers Hanover Bank, were foreclosed by Chemical Bank, which has since merged with Manufacturers.

Kalikow is believed to have acquired the buildings in 1984 for some $30 million.

Financing for the purchase was provided by Citibank Private Banking.

Wasserman owns some 60 multi-family dwellings primarily in Manhattan as well as the Bronx.
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Title Annotation:Stanley Wasserman family purchases parcel formerly owned by Peter Kalikow at York Avenue at 78th and 79th Streets, New York, New York for $18 million
Publication:Real Estate Weekly
Date:Aug 18, 1993
Words:131
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