The Traderszone Network

Published in TZ Latest News 5 July, 2016 by The TZ Newswire Staff

RFR shells out $22M for 14 UES rent-stabilized units

Aby Rosen and Michael Fuchs’ RFR Holding bought a block of rent-stabilized units at the Cheshire Group’s Philip House condominium conversion for $22 million, or nearly $1.6 million per unit on average, sources told The Real Deal. The developer bought a total of 14 apartments in the 12-story building at 141 East 88th Street. “They [are] taking a long-term outlook for the investment,” according to broker Mark Zborovsky, who represented Cheshire.

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