The Kalimian family has sold the luxury residential tower Aire on the Upper West Side to the Gotham Organization and Carlyle Group for $265 million, according to The New York Post.
A&R Kalimian Realty, the developer behind the 43-story glass skyscraper at 200 West 67th Street, faced default on a $196 million mortgage for the 310-unit building, struggling with payments since 2017. The sale comes after the property entered maturity default, and the loan, originally provided by JPMorgan Chase, was transferred to special servicing.
Aire was 97% leased in June 2022, but the Kalimians couldn’t secure new financing by the November loan maturity. The property includes ground-floor retail and a parking garage. CBRE’s Darcy Stacom and Alana Bassen brokered the deal.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.