Emerald continues aggressive acquisition spree
Isaac Kassirer’s Emerald Equity Group has acquired 203, 210, 220 and 230 West 107th Street from Meyer Orbach for $116 million, according to TRD. The multifamily properties span approximately 216,732 square feet and contain 219 units.
Financing Details: Kassirer secured a $92 million acquisition loan from LoanCore.
Flashback: Orbach paid a total of $86.3 for the four Manhattan Valley properties. With this deal, Kassirer continues his aggressive acquisitions spree in the past few years:
1. 69 units at 838 West End Avenue from Thor Equities + Rockwood Capital for around $65 million (Jan, 2018).
2. 130 units in Harlem on Manhattan Avenue and West 114th Street from Orbach (Dec, 2017).
3. 1,130 rental apartments and 51 commercial units in East Harlem from Fairstead Capital + Galil Management (Dec, 2016).
4. 935 units in the Bronx from Jerome Associates (March, 2016). He sold 15 of these buildings in partnership with Harbor Group to Ben and Joe Soleimani for $65 million in early January.