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RE Rumor Mill: Melohn, Urban American, Cindat Capital

Law360, New York (March 13, 2014, 7:13 PM EDT) -- Melohn Properties has sold a residential building in Chelsea to an unnamed New York investor for $79.5 million, The Real Deal reported. Melohn has reportedly owned the property at 200 West 15th St. since 1982, thought it's not clear how much the company paid for the building at the time. The buyer reportedly purchased the 19-story, 109,668-square-foot property as part of a 1031 tax exchange.

Rental management company Urban American Management Corp. has reportedly agreed to sell five multifamily buildings in Far Rockaway, Queens, for $52...
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