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Stonehenge NYC and Stockbridge Capital Group acquired The Cole, an Upper East Side residential tower

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. 

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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).

  • ◦Sale/Acquisition
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