Greenwich Village Apartment Building Sold for $82.5 Million
New owners acquired the 133-unit building near Union Square following a sale by Alcion Ventures and Slate Property Group.
Updated on Sept. 30, 2026 in Commercial
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A 13-story residential building located at 60 East 12th Street has been sold for $82.5 million. The property, which features 133 units and ground-floor retail space, remains slated for continued residential use under its new owners.
Why it matters
The sale follows a period of portfolio liquidation for Alcion Ventures, which is currently winding down its operations. This transaction represents a 23.3 percent price decline compared to the $107.5 million purchase price paid by the previous owners in 2019.
The property at 60 East 12th Street sold for $82.5 million, a 23.3 percent discount from its 2019 acquisition cost. The 13-story site includes 133 residential units and 5,100 square feet of retail space.
The players
Alcion Ventures
A Boston-based investment firm that manages real estate assets and is currently in the process of liquidating its holdings.
Slate Property Group
A New York-based developer and owner known for managing a diverse portfolio of residential and commercial properties.
Stonehenge Investment
A real estate firm that specializes in the acquisition and management of residential properties in New York City.
The details
The building was sold by a joint venture between Alcion Ventures and Slate Property Group, which had purchased the site from Heller Realty in an off-market deal. The transaction was completed without the participation of brokers. Built in 1962, the property also includes a ground-level parking garage.
Timeline
1962: The 13-story building was originally constructed.
2019: Alcion and Slate purchased the building for $107.5 million.
September 2026: The property was sold to Stonehenge Investment and Wraith Capital Group.
The Home Front
This transaction reflects the ongoing shift in the local real estate market as investment firms liquidate assets to exit specific property sectors. The sale signals a broader repricing of residential buildings in Manhattan that were acquired during peak market cycles.
Current residents of 60 East 12th Street should monitor their mail and building communications for updates regarding the new management transition. Renters or owners in similar vintage buildings should review their lease agreements and local tenant rights regarding changes in property ownership.
The takeaway
The sale of 60 East 12th Street highlights the current market repricing occurring for large multi-unit residential properties. Residents in such buildings should keep a copy of their current lease and any correspondence from the prior management company to ensure a smooth transition of services.
Further reading
Learn more about local property trends in the New York City Commercial section.
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