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JLL Closes $44M Apartment Portfolio Sale
JLL Capital Markets arranged the $44-million sale of a 134-unit multifamily portfolio comprised of seven buildings located primarily south of 23rd Street. Known as the Kokot Portfolio, the package includes 67 St. Marks Pl., 106 E.t 7th St., 217 E. 22nd St., 638-640 E. 14th St., 239 W. 15th St. and 426 E. 77th St.
A JLL team by managing director Hall Oster and VP Teddy Gallligan marketed the package on behalf of the seller, a long-term private owner. The buyer was Amir Shriki’s Aya Acquisitions. The purchaser assumed a $15-million CMBS loan and closed the acquisition with $29 million in equity.
“The portfolio presented a tremendous opportunity to acquire scale throughout core Manhattan rental markets,” said Oster.
Galligan added, “The buildings have been well-maintained, featuring great base building conditions with room to implement cosmetic upgrades. The enhancements will add value and drive demand in the portfolio’s supply-constrained submarkets.”
- ◦Sale/Acquisition
