Emerald Equity Group flips the contract for quick profit
Akelius Real Estate Management has acquired 838 West End Avenue from Isaac Kassirer’s Emerald Equity Group for $72 million. The rental property spans 108,377 square feet, and contains 69 apartments.
Buy and flip: Kassirer signed a contract to buy the property from Thor Equities + Rockwood Capital for $64.5 million in December. He paid an additional $2.5 million to push off the closing until the end of July, according to TRD.
Flashback: Thor Equities and Rockwood Capital paid $64.65 million for the property in 2014. The property is located between West 100th and West 101st Streets.