Stonehenge NYC has closed on the purchase of 780 Greenwich St., a multifamily property located in the West Village neighborhood of Manhattan, New York. The off-market transaction marks the 27th asset in the buyer’s overall portfolio. Stonehenge NYC will manage the property and will upgrade both apartments and amenities. The previous owner was Heller Realty, according to Yardi Matrix, having bought the property back in 2006, for $35 million.
Located between Bank and Bethune streets, in the heart of West Village, the six-story building comprises 88 apartments averaging 567 square feet, and offering duplex units. The community offers access to many restaurants, shops and nightlife offerings, many of which are within walking distance. The pet-friendly, doorman building is also near the Meatpacking District, the Highline, as well as the Hudson River Esplanade.
The 70,000-square-foot building, completed in 1950, is one of the few rental properties in the Village with more than 75 large apartments, Ofer Yardeni, chairman & CEO of Stonehenge NYC, said in prepared remarks.
After a couple of slower years, multifamily transactions are starting to pick up steam in New York City. Just last month, KKR & Co. bought a 365-unit property in Brooklyn for $190 million, with another four deals of $20 million or more recorded in July alone.