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Avison Young’s Tri-State Investment Sales Group announces bid deadlines for 12-building Upper East Side portfolio26 May 2021
New York, NY – The Tri-State Investment Sales Group for Avison Young has announced deadlines for investors to submit bids through the Ten-X platform for a commercial real estate portfolio comprised of 12 Upper East Side buildings with 261 residential and two retail units.
To be eligible to participate, indicative bids are due in writing to the brokers and Ten-X client manager on or before Monday June 21st at 5pm EST. Qualified buyers will be vetted, and invited to participate in a private four-hour, best and final, live-bid event on Wednesday June 30th.
Avison Young’s James Nelson, Principal and Head of Tri-State Investment Sales, Principal Brandon Polakoff, Director David Shalom, Senior Associate Bradley Rothchild and Associate Director Eric Karmitz are marketing the property on behalf of ownership.
“The sale of 100 percent of the shares in the 12 properties will take place through a secure online ‘managed bid’ process on the Ten-X.com platform,” Nelson said. “The portfolio offers an immediate value-add opportunity in one of Manhattan’s most desirable neighborhoods and has already generated a tremendous amount of interest from investors.”
The 12 properties are in close proximity of each other, allowing for easy management efficiency. The portfolio includes 418 East 77th Street, 422 East 77th Street, 441 East 75th Street, 1409 York Avenue, 1411 York Avenue, 423 East 77th Street, 305 East 75th Street, 439 East 74th Street, 327 East 75th Street, 442 East 75th Street, 309 East 91st Street and 425 East 75th Street.
To sign a confidentiality agreement, access due diligence materials and register to bid, visit the Ten-X site by clicking here.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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