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Deals & Dealmakers

Long Island investment firm buys Flatiron rental for $30M

Long Island-based investment firm A.D. Real Estate Investors has purchased a luxury rental building on W. 16th Street near Union Square for $30 million, according to city records.

The 7-story building, at 9 E. 16th Street, was previously purchased in 2012 by The Milan Associates L.P. for $15 million. The company also purchased a commercial unit in the building for $3.7 million.

The 50-foot-wide building was designed by Louis Korn and features 13-foot ceilings and arched windows overlooking the park.

Built in 1900, the 15-unit elevator building has a ground-floor commercial unit that is currently occupied by Campeon, a Mexican restaurant and sports bar.

Both The Milan Associates L.P. and A.D. Real Estate Investors have not yet responded to a request for comment on the deal.

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