Partner Ronald B. Kremnitzer, Co-Chair of Pryor Cashman’s Real Estate Group, along with Partner Danielle L. Schechner and Associate Ari L. Tran, represented an affiliate of Firm Capital American Realty Partners Corp., a Toronto-based private equity firm, in connection with a joint venture partnership with Emerald Equity Group to acquire three multi-family apartment buildings located between West 113^th and 115^th streets in Manhattan’s Harlem neighborhood.

The partnership closed on the portfolio, consisting of 130 rental apartments spanning approximately 113,000 square feet, on December 14, 2017 for a purchase price of $61.5 million. The acquisition was partially financed through a loan from Santander Bank, N.A.

Firm Capital, a non-bank lender and investor in Canada, operates as a boutique real estate and financial services private equity investment company, and currently has approximately $2 billion in mortgage and real estate related assets under management.

News of the acquisition was reported by The Real Deal and various media outlets. 

More About Pryor Cashman’s Real Estate Practice

Pryor Cashman’s nationally-recognized Real Estate Group helps clients buy, sell, develop, lease and invest in properties in New York City and across the U.S. With decades of experience representing every type of stakeholder in the real estate market, we have handled a vast and diverse range of transactions – and know how to creatively structure and efficiently close virtually any deal.

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