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Avison’s Tri-State Team Closes Deal for Upper East Side Portfolio
Avison Young’s Tri-State Investment Sales Group has arranged the sale of a 12-building mixed-use and multifamily portfolio on the Upper East Side for $61 million. The portfolio comprises 261 residential units and two retail units spanning 150,231 gross square feet between Second and York avenues and East 91st and East 73rd streets.
The Avison Young team of James Nelson, Brandon Polakoff, David Shalom, Eric Karmitz and Bradley Rothschild represented the seller in addition to procuring the buyer. The sale of 100% of the shares in the corporations that owns the 12-property portfolio was executed through a managed bid process on the Ten-X web platform.
“The Upper East Side has a longstanding reputation as one of New York City’s most desirable neighborhoods for residential and retail investment,’ said Nelson. “This portfolio provided a unique investment opportunity to acquire 12 well-located mixed-use properties with value-add potential and high net operating income.”
- ◦Sale/Acquisition

