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Stonehenge Partners buys 1143 Second Avenue for $47 million

3:48 pm, August 9, 2011

By Daniel Geiger

Stonehenge Partners has acquired 1143 Second Avenue for $47 million, according to sources with direct knowledge of the acquisition.

The 93-unit residential rental building features a full block front of retail space between 60th and 61st Streets, a stretch of avenue frontage that is filled with 14 retail tenants.

1143 Second also has roughly 77,000 s/f of untapped development rights, space that could be added on top of the building or by razing a section of the property and constructing a new residential structure in its place.

A team from the real estate services firm Jones Lang LaSalle led by company executives Richard Baxter, Jon Caplan, Ron Cohen, Scott Latham and Glenn Tolchin, handled the deal on behalf of 1143 Second Avenue’s seller, which has sought to remain anonymous in the transaction but is identified in city property records as a holding company with the principals Edward Kimmel and Janet Jaffin.

For more info on the deal, check out tomorrow’s print edition of Real Estate Weekly.

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