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Apartment Investment and Management Co. has entered the Manhattan multifamily market with the purchase of five five-story properties for a total price of $37.5 million.
The properties, located on Columbus Avenue between West 68th and 69th Streets, include 58 residential units and 12 commercial spaces, the multifamily real estate investment trust reports.
Harry Alcock, chief investment officer, AIMCO, said, "We made an assessment that we are underweighted in several key apartment markets and believe it is ...
Source: HighBeam Research, Aimco Moves Into NY Homes.(Brief Article)