Empire State Realty buys two rentals with 625 units from Fetner for $307M

The publicly traded real estate investment trust Empire State Realty Trust purchased two Manhattan rental buildings from Fetner Properties with a total of 625 residential units for $307 million, according to industry sources and public information.

The Real Deal reported in October 2021 that Empire State Realty Trust disclosed in a U.S. Securities and Exchange filing that it had an agreement to buy two properties with a total of 625 units for $307 million, but did not disclose the seller or the property addresses. The sales were expected to close in the fourth quarter.

The buildings are the Victory at 561 10th Avenue with 417 residential units, built in 2003, and the 208-unit 345 East 94th Street in Yorkville, built in 1998.

The broker was Newmark’s Jean Celestin, according to industry sources.

ESRT, Fetner and Celestin did not immediately respond to a request for comment.

Fetner is currently developing a 171-unit rental building on the Upper West Side.

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