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The New York Observer

Equity Residential Drops $178 M. on Upper West Side Properties

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June 26, 2007 | 4:50 p.m

Equity Residential recently went on a shopping spree for Upper West Side apartment buildings, and spent close to $180 million.

The Chicago-based firm purchased 228 West 71st Street and 238 West 71st Street for $75 million total; 41 West 86th for $45 million; and 52 West 77th Street for $58 million, according to city records. All told, Equity spent $178 million. The seller was Portnof Realty Corporation.

The total square footage of the deal comes in at around 325,000 square feet, and only increases Equity’s rep as a big-time player.

On its Web site, Equity Residential claims to be “the largest publicly traded owner, operator and developer of multifamily housing units in the United States” with close to 1,000 properties in 33 states.

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