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GO Partners Sells Minority Stake in Luxury Upper East Side High-Rise
Toronto-based GO Partners has sold a 45% stake in 265 E. 66th St. and 20 nearby townhouses in Manhattan’s Upper East Side neighborhood to RXR. The deal values the rental properties at approximately $435 million.
GO Partners will maintain majority ownership and GO REIT will continue managing the 1980s-vintage luxury high-rise at 265 E. 66th. “This transaction is indicative of the institutional demand for LHR assets located in the borough of Manhattan and the longer-term outlook of this market,” said Meyer Orbach, chair of the board of trustees of GO REIT. “Despite this clear signal from the market, GO REIT continues to trade at a significant discount to its intrinsic value.”
Newmark’s Adam Spies and Adam Doneger brokered the minority stake sale to RXR. GO Partners paid $425 million for the 295-unit rental and the townhouses in 2023, closing the final portion of a large multifamily transaction with Stefan Soloviev
- ◦Sale/Acquisition
