Blackstone realigns ambiguous stakes in 31 NYC mostly multifamily properties

Blackstone Group transferred a $3.5 million interest in 31 properties in New York City, including 75-25 153rd Street, 109-05 120th Street, 575 Amsterdam Avenue, 88-36 Elmhurst Avenue, 1 Wadsworth Avenue, and others. The deal closed on September 24, 2019, and was recorded on October 30, 2019. The transaction consists of 31 parcels, including the tax class multifamily, luxury type (D8) and containing a total of 2,211 residential units. Several of the apartment buildings are affiliated with A&E Real Estate Management.

Blackstone shifted what was described as a 51 percent interest from three limited liability company entities that have an unknown ownership stake in the buildings, to a fourth entity. The city levied a tax of $47,435 on the transfer.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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