Partnership Acquires Manhattan Apartment Building for $120M

by Taylor Williams

NEW YORK CITY — A partnership between locally based investment firm Slate Property Group, KABR Group and Avenue Realty Capital has acquired 600 Columbus, a 166-unit apartment building on Manhattan’s Upper West Side. The sales price was $120 million. The 14-story building, which occupies an entire city block between 89th and 90th streets, houses 27,500 square feet of retail space that is leased to ACE Hardware, Atmosphere Kitchen & Bath, Round Star Soccer and Columbus Pre-School. Apollo Global Management provided a $68 million acquisition loan for the deal. The name of the seller and original developer of the property was not disclosed. Bob Knakal of JLL brokered the deal. The new ownership plans to implement a capital improvement program.

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