Newswire Mann Report

Murray Hill Multi-housing Community Sells for $387.5M

685 First Ave. (Photo via PRNewswire)

JLL’s Capital Markets Group closed the sale of a $387.5 million multi-housing community comprised of 408 market-rate units and 9,693 square feet of commercial space located at 685 First Ave. in the Murray Hill neighborhood of Manhattan. The site is part of a larger, six-property, 1,766-unit portfolio that JLL recently marketed.

JLL exclusively represented the seller, Solow Building Company, and procured the buyer, GO Partners, a joint venture between Josh Gotlib and Meyer Orbach. GO Partners additionally brought in other syndicated private partners and procured financing from a relationship bank.

JLL’s Capital Markets Investment Sales Advisory team was led by Senior Managing Directors Rob Hinckley and Jeff Julien, Vice Chairman Scott Panzer, Senior Managing Director Andrew Scandalios, Director Steve Rutman, Vice President John Taylor, Associate Jon Faxon and Analyst Joy Ryoo.