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HGI News

 

Harbor Group International Sells Upper East Side Apartment Building

NEW YORK (June 20, 2017) -- Harbor Group International, LLC (“HGI”) announced today that affiliates of the company have sold a 37-unit apartment building on Manhattan’s Upper East Side at 162-164 East 82nd Street, between Lexington and Third Avenues, for $19.4 million.

The property is HGI’s second successful investment in the area. In August 2015, HGI sold a 46-unit property located at 334-338 East 79th Street for $25.5 million.

“HGI has shown its ability to operate in Manhattan and adapt to this changing market,” said T. Richard Litton, Jr., President of Harbor Group International, “We are pleased with the results we were able to achieve in maximizing this property’s potential for our investors.”

Built in 1920, the property consists of two contiguous 5-story walk-up buildings totaling 37 units. It features various floor plans with an average size of 510 square feet. Located between 3rd and Lexington Avenues on the south side of the street, the property offers convenient access to Central Park and public transportation.

Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued in excess of $4.7 billion.  HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv.  The company’s real estate holdings include approximately 4.7 million square feet of commercial properties and in excess of 22,000 apartment units.  For additional information, please visit

www.harborgroupint.com

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Harbor Group International, LLC provides real estate management and real estate investment opportunities and services and is not affiliated with Harbour Group Industries, Inc. (whose website may be found at www.harbourgroup.com), which offers investment services in connection with the acquisition of, development and operation of industrial and manufacturing companies.