Equity Residential is the seller in the $240 million deal
Greystar has signed a contract to acquire 800 Sixth Avenue from Sam Zell’s Equity Residential for $240 million, according to the NYPost. The residential building spans 293,978 square feet, and contains 266 apartments (62 are stabilized).
Historical Context: The property is located between West 27th and 28th Streets and was developed by Adelco in 2003. Equity Residential acquired the building when it bought 60 percent of Archstone-Smith’s properties in 2013. Avalon Bay bought the other 40 percent.
Worth Noting: Equity Residential sold 101 West End Avenue to the Dermot Company and PGGM last year for $416 million.