CIM Group takes control of 96 unsold condo units at 4 HFZ projects in deal valued at $231M

The CIM Group through the entity CCO Condo Portfolio (Az) Junior Mezzanine LLC acquired from HFZ Capital Group’s HFZ 88 Lexington Avenue Junior Mezzanine LLC (and others) 96 unsold condo units valued at $231.3 million at 301 West 53rd Street, 88 Lexington Avenue, 90 Lexington Avenue and the Astor at 235 West 75th Street in Manhattan. The deal closed on January 7, 2021, and was recorded on February 4, 2021. The transaction consists of 96 parcels, including the tax class residential condo in Acris (SC) and containing 96 residential units.
The sale price per unit is $2,408,903.

The Real Deal reported on the transfer yesterday.

Direct link to Acris document. link

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