The Wimbledon
Wimbledon Sells For $150 M. (The Apartment Complex, Silly)
On June 25, as tennis lovers raptly followed the progress of Rafael Nadal and Roger Federer, Serena Williams and her sister Venus on the grass courts in England, a separate Wimbledon drama was happening stateside.
That day, JP Morgan Investment Management closed on the purchase of The Wimbledon from P&H Associates. The building, a 28-story, 230-unit apartment complex at 200 East 82nd Street on the Upper East Side, sold for $150 million.
“The credit crunch has taken its toll on the multifamily market in Manhattan over the last year, with very few transactions completed, but the sale of The Wimbledon ─ at such a strong pricing level ─ verifies there is still a market for prominent buildings with strong fundamentals,” said Jubeen Vaghefi, a managing director at Jones Lang LaSalle, in a statement. read more »
