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Slate Property JV acquires NYC multifamily building for $106.5M

Slate Property Group LLC and Alcion Ventures LP bought the 133-unit multifamily property at 60 E. 12th St. in Manhattan, N.Y., for $106.5 million, The Real Deal reported, citing Slate co-founder and principal Martin Nussbaum.

The venture acquired the fee interest in the property in an off-market deal with Heller Realty, terminating the 13-story building's previous ground lease, according to the Aug. 15 report.

The building comprises 116,000 square feet with 5,100 square feet of ground-level retail space and an attached parking garage.