Brokerage giant Massey Knakal has announced, in an e-mailed press release and on its blog, that the firm has been retained to arrange the sale of 17 walk-up apartment buildings in the East Village. But not just any 17! The mix of buildings—sprinkled throughout the 'hood in many shapes and sizes and with widely varying numbers of rent-stabilized apartments per building—make up the "East Village Portfolio," purchased by megadeveloper Extell for $72 million in 2006 before the company spun if off to former cohort Westbrook Partners for $97.5 million in the summer of '07
The portfolio is going for $120 million.
According to Massey Knakal, "The rent regulated units are renting for as low as 20% of market creating a tremendous opportunity to increase revenue in the future. All of the free market units have been recently renovated featuring new hardwood floors, stainless steel appliances and granite countertops."
Curbed has photos of the 17 properties on the block.