A joint venture of Apollo Real Estate Investment Fund V, Barrow Street Capital and David Swersky has acquired 52 unsold cooperative units at the Riviera in the Washington Heights section of New York City.
The value of the transaction was not disclosed.
Built in 1910 in the Beaux-Arts style, the Riviera is a 12-story co-operative building on the corner of West 157th Street and Riverside Drive. Unit mix includes studios and one-, two-, three- and four-bedroom apartments, with an average size of more than 1,500 square feet. There are a total of 202 apartments in the building.
The joint venture plans to renovate and sell the units as they become vacant.