5 West 91st. Street in Manhattan
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/ By Ilan Shavit /
Gaia Real Estate Holdings LLC and Harel Insurance Investments and Financial Services Ltd. (TASE: HARL)have sold an apartment building on Manhattan’s Upper West Side for $27.2 million. They bought the property for $20.5 million in September 2010, making a 37% capital gain on sale.
The property, 5 West 91st Street on the Upper West Side, was bought from Laurence Gluck, Stellar Management, who bought it from Mitchell-Lama for just over $14 million in June 2006.
The 48-unit building is located between Central Park West and Columbus Avenue.
Stellar bought the property in June 2006 for $14 million.
Gaia founded by Amir Yerushelmi, Danny Fishman and Ken Woolley. According to the company website it invests in distressed properties and also owns property management firm Vision Property Management and sales company Park River Properties.