Midwood Acquires Candela Tower Apartments in Manhattan for $102M

by Taylor Williams

NEW YORK CITY — Locally based firm Midwood Investment & Development has acquired Candela Tower, a 158-unit apartment building in Manhattan’s West Village area, for $102 million. Named after its designer, Rosario Candela, the 20-story building was originally constructed in 1931 and includes 6,721 square feet of retail space. Cushman & Wakefield’s Adam Spies, Adam Doneger and Marcella Fasulo represented the seller, BlackRock, in the deal. MetLife Investment Management provided $63.5 million in acquisition financing to Midwood, which plans to upgrade the unit interiors and amenity spaces.

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