JDS and Baupost Selling American Copper Residential Buildings

The pair of luxury American Copper residential towers located at 626 First Avenue are in contract to sell by JDS Development Group and Baupost Group for roughly $850 million. The pending sale to Manhattan-based Black Spruce Management is one of the biggest residential deals since the onset of the pandemic. The 48-story towers that are located along the East River have about 600 market-rate units and 160 rent-stabilized units.

Source:    https://www.crainsnewyork.com/residential-real-estate/nycs-american-copper-buildings-sell-850m