Upper West Side Buildings Sell For $66 Million

UPPER WEST SIDE, NY — Two real estate investment firms have partnered to purchase two multi-family apartment buildings on the Upper West Side in a pricey land deal.

The firms Dalan Management Associates and Elion Partners are buying the two buildings from a company called AAG Management for about $66 million, according to a press release. The adjacent building are located at 2568 Broadway and 226 W. 97th St., according to the release.

The investment firms plan to co-manage the buildings with the goal of renovating the apartment units and possibly splitting units to create more apartments, according to a press release.

"With careful hands on management, and its prime location, these units will serve as great residences and attractive retail hubs for consumers for years to come," Daniel Wrublin of Dalan Management said.

The seven-story building at 2568 Broadway currently contains 27 apartments and the eight story building at 226 W. 97th St. currently contains 34 apartments, according to public records. The building on Broadway has ground-floor retails space whereas the building on West 97th Street is only residential.

Both buildings currently have active Department of Buildings violations that require civil penalties due, according to the department's website. The building at 2568 Broadway also has a stop work order dating back to 2016.

Photo by Google Maps street view