Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + Uptown/Bronx  + Apartments  |  July 22, 2022
Kahen Properties paid $33.75 million to acquire a mixed-use portfolio in Manhattan's Lenox Hill neighborhood
Paul Bubny
By: Paul Bubny

Kahen Properties Acquires Lenox Hill Portfolio

JLL Capital Markets closed the $33.75-million trade of a three-building mixed-use multi-housing and commercial portfolio in Manhattan’s Lenox Hill neighborhood. 

Located at 1026 Third Ave. and 1020-1024 Third Ave., the portfolio was acquired by Kahen Properties, a New York-based development firm. 

JLL represented Kahen Properties in the $9.75-million acquisition of 1026 Third Ave. Nick Judson, principal of Judson CRE, represented the seller, Portfolio4 LLC. Additionally, JLL represented the seller, JANS Investment Company LLC, in the $24-million sale of 1020-1024 Third Ave. 

The JLL Capital Markets Investment Advisory team was led by managing director Clint Olsen and associate Stephen Godnick. 

“The tenant mix and zoning of these properties positions the buyer to capitalize on a fully-recovered rental market in one of the city’s most affluent neighborhoods,” said Olsen. “Coupled with prime retail space and a choice of transportation options, this value-add portfolio offers substantive long-term growth opportunities.” 

Connect

Inside The Story

JLL's Olsen

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
Order Reprints
  • ◦Sale/Acquisition