Embattled N.Y. Landlord Buys Annex Apts. For $5.87M
A New York-based landlord has purchased a 41-unit Annex apartment complex for $5.87 million.
The property transaction is documented in a warranty deed posted to the city’s land records database. Gersh Terrace CT LLC paid $5.87 million to Terrace St LLC to buy 70 Terrace St, an eight-building complex.
The complex last sold for $3.95 million in 2019 and was appraised by the city for tax purposes as worth $3,956,500. The seller is a company controlled by Amit Lakhotia of Westport.
The buyer appears to be an affiliate of the company at the center of a nationwide tenants union organizing movement.
No comment from the parties involved.
Author summary: New York landlord buys 41-unit apartment complex.
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