London Property | Estate Agents Clerkenwell | Limehouse flats | Doughty Street
A privately owned London-based investment group said Monday it was making its first major property acquisition in the United States: dozens of buildings for $250 million.
Dawnay, Day Group said it bought a portfolio of buildings in Manhattan: 47 buildings in East Harlem and seven condominium units in the East Village.
Dawnay, Day US Real Estate Management LLC of New York will manage the properties, which include 1,137 residential apartment units and 55 commercial units in East Harlem.
Dawnay, Day Group, established in 1928, operates in markets around the world, specializing in property investment and financial services among other things. It has approximately $10 billion of properties under management or ownership in countries across the world.
There has been a spate of big real estate deals in the city recently.
Late last year, the massive Stuyvesant Town and Peter Cooper Village apartment complex in Manhattan was sold for $5.4 billion. The complex has 11,000 apartments.
Earlier this year, a real estate developer tried to buy one of the country's largest federally subsidized housing complexes, the 6,000-apartment Brooklyn property known as Starrett City, for $1.3 billion. But the deal was blocked this month by the U.S. Department of Housing and Urban Development.
HUD said the prospective buyer had not provided sufficient information to demonstrate its financial and managerial capabilities for preserving Starrett City as affordable housing on a long-term basis.
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