Real Estate Group Represents Client in Two Major Westchester Purchases
The Real Estate Group recently represented UBS Realty in two major purchases. In the first, we represented RiverEast Apartments Investors LLC (an entity managed by UBS Realty Investors LLC) in its purchase from 92nd & First Residential Tower LLC (an entity related to The John Buck Company) of the property known by the street address 408 East 92nd Street for the purchase price of more than $94 million. The property is a 32-story, 196-unit residential apartment building with commercial space on the ground floor.
In the second, we represented Bloomingdale Road Investors LLC (an investment group controlled by UBS Realty Investors LLC) in the purchase of Fortunoff Source Shopping Center in White Plains from R Squared LLC for $153 million. This property is fully-leased, and the shopping center is 280,000 square feet, four stories tall, with a 350,000-square-foot, 1,100-space parking deck. The latter deal was featured in The New York Times story briefly referenced in the New York Sun.