Real Estate
UES Apartment Building Sells For $85M, Report Says
The apartment complex on East 80th Street features 155 rental units.
UPPER EAST SIDE, NY — An Upper East Side residential building is in contract to sell for more than $85 million, according to reports.
The 13-story, 155-unit apartment complex at 420 E. 80th St., located between York and First Avenues, is set to change ownership, the Real Deal first reported. The building is being sold by real estate investment firm Equity Residential to Hampshire Properties, another investment firm, according to the report.
The $85 million sale represents a profit greater than $20 million for Equity Residential. The building was last bought in 2006 for $62 million, according to public real estate records.
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The real estate firm Marcus & Millichap brokered the most recent sale, the Real Deal reported.
Find out what's happening in Upper East Sidefor free with the latest updates from Patch.
Photo by Google Maps street view
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