Aimco takes Manhattan

Apartment Investment and Management Company (Aimco) closed on the purchase of five contiguous apartment properties having 72 apartments located on New York City's Upper East Side. The address of the acquired properties is 167-173 East 90th Street, between Lexington and Third Avenues.

The total value of the transactions was $14.5 million.

Aimco's purchase consists of five walk-up buildings comprising an aggregate 72 one and two-bedroom duplex apartments. The apartments were built in the 1880s, have been substantially renovated, and feature large windows, high ceilings, fireplaces, wood floors and gardens.

Rubin Pikus of Millbrook Properties was the seller.

Georgia Malone, president of Manhattan-based Georgia Malone & Co., represented Aimco in the transaction.

Denver, Colo-based Aimco is a real estate investment trust.

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