The seller, Abe Greenspan s Belmar Realty Corp., had put the full 323,000-square-foot package of seven buildings in the Bronx and Manhattan for a combined $100 million, or $285,700 per unit. The package was called the “BMH 350 portfolio,” in reference to the Brooklyn, Manhattan and Harlem locations and the number of units.
All four of the Lightstone buildings are entirely rent-stabilized, except the 122-unit Bartholdi Street property, which only has free-market apartments. That building also generates the highest net operating income currently, at $1.05 million, the materials show.
In addition, the Bartholdi Street building is the odd one out when it comes to ownership history. The Greenspan family bought it from Larry Gluck’s Stellar Management for $14 million in 2012; the other three have been in the family for decades, records show.
A Marcus Millichap team led by Peter Von Der Ahe, Joe Koicim, Seth Glasser, David Lloyd, Danny Handweiler and Michael Fusco is representing the seller, and Shmaya Haskel and Benny Katz of BruMa Realty is representing the buyer.
The brokers and Lightstone declined to comment, and Greenspan could not be immediately reached.
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