Stonehenge NYC Snags Circa-2002 UES Rentals
Stonehenge NYC and Stockbridge Capital Group have closed on the purchase of The Cole from Carmel Partners for $128.2 million. The 164,000-square-foot building is 22 stories and contains 163 residential units with retail on grade.
The Upper East Side building, located at 354 East 91st St., was constructed in 2002 and will be rebranded as The Cole by Stonehenge.
The Hodges Ward Elliott commercial team which included managing directors Daniel Parker, Paul Gillen, Anthony Ledesma and VP Allie Boyan, arranged the sale as the exclusive brokers.
Stonehenge NYC plans to upgrade the building’s apartments and amenities and enhance the tenant experience through property management. “The acquisition of The Cole represents one of the very few 2000s-vintage, fully free-market assets to trade in recent years, and we look forward to providing a first-class experience to the residents in the building,” said Ofer Yardeni, chairman and CEO of Stonehenge NYC.
- ◦Sale/Acquisition