BlackRock may not have made the best deal when it decided to partner with Tishman Speyer and spend $5.4 billion on Stuy Town and Cooper Village in 2006, but the investment firm sure played its cards well in Morningside Heights.
On Oct. 14, BlackRock, along with real estate investment firm Northbrook Partners, sold the building at 204 West 108th Street for $16.8 million—$6.4 million more than it paid for the property back in 2005.
The buyer, a Yonkers-based entity called LM 204 West 108 LLC, could not be reached for comment. According to PropertyShark, the six-story building, erected around 1915, houses 48 apartments.
“About half of the apartments are market-rate, and about half are stabilized with upside,” said Brian Ezratty, who, along with his Eastern Consolidated colleagues Deborah Gutoff and Ronda Rogovin, represented the seller.
David Kalish, also from Eastern Consolidated, represented the buyer.