Volume 75, Number 38 | February 8 -14 2006

Developer unloads Morton Square for $75 million, but ‘under the radar’

Chicago-based Equity Residential earlier this month announced that it has acquired Morton Square, the 135-unit luxury rental apartment building located at 600 Washington St. Built two years ago, the property also contains four retail stores comprising approximately 6,700 square feet. The sale price was $75 million. The sale was said to have occurred “under the radar” in a “fast-track deal.”

Ronald A. Solarz and Eric M. Anton, senior managing directors of Eastern Consolidated real estate brokers, represented the seller, J.D. Carlisle, led by Jules Demchick. Newly built market-rate residential properties in the West Village are rarely offered for sale. According to a release by Eastern Consolidated, “Morton Square, in particular, was well designed and is known as one of the premier rental buildings in Manhattan.”

Attorneys Larry Lipson of Proskauer Rose represented the seller and Ross Greene of DLA Piper Rudnick Gray Cary acted on behalf of the buyer.

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