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Acquisitions

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

201 East 164th Street in the Bronx (Credit: CoStar)

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). 

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