Manhattan Apartment High-Rise Hits Market
Manhattan Apartment High-Rise Hits Market |
Monday, April 10, 2006 |
By Jillian The Elektra, a 166-unit apartment high-rise in the heart of The 32-story high-rise is owned by Continuum Health Partners Inc., a non-profit health system in The building at Recent comparable trades include the 105-unit building at 1218-20 Second Ave., which sold for about $960,714/unit. And Archstone-Smith is paying around $600,000/unit for the Marlborough House at The Elektra was built using air rights from surrounding buildings and therefore is one of the only residential high-rises in its immediate neighborhood, a factor which also could boost pricing. The building was developed in 1992 by MJM Associates. It has two retail units totaling 7,614 sf, as well as a roof deck with views of Midtown, Lower Manhattan and the |
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