Equity Eyeing $280M NYC Apartment Buy

Law360, New York (June 19, 2012, 7:35 PM EDT) -- Real estate developer and manager Equity Residential is reportedly in talks to purchase Manhattan's luxury Beatrice residential tower for $280 million, according to news reports published Monday.

Chicago-based Equity, the country's largest publicly traded apartment owner, could close on a deal to buy the 302-unit tower from owner JD Carlisle Development Corp. as early as this week, sources told Bloomberg.

The Eventi hotel, which takes up the bottom half of the 53-story, 620,000-square-foot building, is not part of the deal, the sources said.

The $280 million...
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