Cignature in The News – "Here are NYC’s largest portfolio deals of 2023"
December 28, 2023 – The Real Deal
6) $47 million | Barberry Rose Management takes a haircut
Barberry Rose Management sold 16 rent-stabilized buildings in September to Coney Realty for $47 million. Barberry Rose, headed by Lewis Barbanel, had paid $83.6M for the properties in 2016. The steep discount illustrated the impact of the 2019 rent laws, the pandemic and rising interest rates. “That’s just a reflection of where the market is,” said Cignature Realty’s Lazer Sternhell, who brokered the deal.
For the complete article visit The Real Deal.