Blackstone Group LP is close to an agreement to buy an eight-building apartment complex on Manhattan’s east side, for $620 million, cementing its position as one of New York’s largest residential landlords, according to a person with knowledge of the talks.
The New York-based firm, the world’s largest manager of alternative assets, is planning to buy Kips Bay Court from Phipps Houses, a developer of affordable housing, said the person, who asked not to be identified because negotiations are private. Paula Chirhart, a Blackstone spokeswoman, declined to comment…
Blackstone Said Nearing $620 Million New York Apartment Purchase
