therealdeal.com – Isaac Kassirer is in contract to buy the 1,181-unit “Dawnay Day” portfolio from Fairstead Capital and Irving Langer’s E+M Associates for north of $350 million, The Real Deal has learned. The transaction is one of the largest multifamily deals of the past year and shows Kassirer’s intent to become a major player in New York City’s multifamily market.
The formerly distressed 47-building East Harlem package was one of the largest portfolios on the market. It was named after now-defunct British investment firm Dawnay Day, which owned the buildings for two years until it fell into foreclosure in 2009.
Categories: Real Estate