Lightstone Group pays $24.5M for 201 East 164th Street

This is David Lichtenstein’s firm third major acquisition in the Bronx in the past nine months

Lightstone Group has acquired 201 East 164th Street from Phillip Schor’s Sheridan Court Mews Associates for $24.5 million. The rent stabilized apartment building spans 135,202 square feet, and consists of 129 units, plus a retail component.

Acquisition financing: Lightstone secured $14.9 million in financing from Dime Community Bank to close the deal. 

Betting big on the Bronx: This deal marks Lichtenstein’s third major acquisition in the Bronx in the past nine months… In March 2018, he paid Abe Greenspan $50.6 million for a 266-unit portfolio (259,640 SF). Six months later, he paid Martin Shapiro $53 million for a 233-unit portfolio (233,815 SF).