Blackstone buys Jack Parker’s Parker Towers for $500M

Blackstone Group is buying a Queens apartment complex for roughly $500 million. The firm is purchasing Parker Towers from the Jack Parker Corporation, according to Bloomberg. It views the buildings as an affordable choice for renters looking to live outside of Manhattan and more expensive Queens neighborhoods like Long Island City. Blackstone Property Partners is making the investment. The fund also owns Kips Bay Court and Stuyvesant Town in Manhattan. Parker Towers is located in […]

Read Full Article >> https://therealdeal.com/2018/09/11/blackstone-buys-jack-parkers-parker-towers-for-500m/