AEW Capital Pays $170M For Rental Building By Hudson Yards

Law360, New York (November 27, 2013, 1:12 PM EST) -- Real estate investment company AEW Capital Management LP has purchased a Hell's Kitchen apartment building for about $170 million from the Gotham Organization and AIG Affordable Housing, a source said Wednesday.

AEW purchased the 375-unit apartment building called New Gotham at 520 West 43rd St. on behalf of AEW Core Property Trust, an affiliated open-end core real estate fund, according to CBRE Group Inc., the company that brokered the deal.

“Gotham Organization had commenced a renovation program, bringing New Gotham up to the booming standards of...
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