{"id":1004027942,"date":"2011-03-22T06:08:17","date_gmt":"2011-03-22T14:08:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004027942"},"modified":"2022-12-05T22:18:59","modified_gmt":"2022-12-06T06:18:59","slug":"phoenix-orbach-acquire-manhattan-multi-family-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/","title":{"rendered":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio"},"content":{"rendered":"<p>March 22, 2011<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004027943\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004027943\" data-attachment-id=\"1004027943\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/morrissey-27\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"morrissey\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user morrissey&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg\" alt=\"\" title=\"morrissey\" width=\"300\" height=\"225\" class=\"size-medium wp-image-1004027943\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004027943\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user morrissey<\/p><\/div>\n<p>Phoenix Realty Group and The Orbach Group have entered into a partnership to acquire an interest in a 13-building multi-family portfolio on W. 49th St. in Manhattan near Rockfeller Center and Times Square. <\/p>\n<p>The 253 pre-war apartments were 99 percent occupied as of the investment\u2019s closing. They have been owned and operated by Orbach since 2008 and present a mix of market-rate and rent-stabilized units. <\/p>\n<p>According to Phoenix vice president Udi Kore, the portfolio was well suited for the firm\u2019s investment focus. Furthermore, he said, Orbach is a high-quality owner-operators capable of realizing the asset\u2019s potential. Phoenix senior vice president Steve Scioscia added that an increasing number of private owner-operators are attracting institutional partners.<\/p>\n<p>Orbach has holdings in New York commercial and residential facilities in Midtown and the Upper West Side as well as properties throughout New Jersey and metropolitan Philadelphia. Orbach owner and president Meyer Orbach said that the firm plans to reinvest its savings and expand in New York as well as other markets.<\/p>\n<p>Orbach added that the partnership gives the firm the capital to refinance the property, which will save $6 million over the life of the mortgage loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 253 pre-war apartments were 99 percent occupied as of the investment&#8217;s closing. They have been owned and operated by Orbach since 2008 and present a mix of market-rate and rent-stabilized units. <\/p>\n","protected":false},"author":936,"featured_media":1004027943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742],"tags":[],"class_list":["post-1004027942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Phoenix, Orbach Acquire NYC Multi-Family Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix, Orbach Acquire NYC Multi-Family Portfolio\" \/>\n<meta property=\"og:description\" content=\"The 253 pre-war apartments were 99 percent occupied as of the investment&#039;s closing. They have been owned and operated by Orbach since 2008 and present a mix of market-rate and rent-stabilized units.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-03-22T14:08:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T06:18:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Phoenix, Orbach Acquire NYC Multi-Family Portfolio\",\"datePublished\":\"2011-03-22T14:08:17+00:00\",\"dateModified\":\"2022-12-06T06:18:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/\"},\"wordCount\":217,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/03\\\/morrissey4.jpg\",\"articleSection\":[\"Featured\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/\",\"name\":\"Phoenix, Orbach Acquire NYC Multi-Family Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/03\\\/morrissey4.jpg\",\"datePublished\":\"2011-03-22T14:08:17+00:00\",\"dateModified\":\"2022-12-06T06:18:59+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/03\\\/morrissey4.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/03\\\/morrissey4.jpg\",\"width\":\"500\",\"height\":\"375\",\"caption\":\"Courtesy Flickr Creative Commons user morrissey\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix, Orbach Acquire NYC Multi-Family Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/allisonlanda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio","og_description":"The 253 pre-war apartments were 99 percent occupied as of the investment's closing. They have been owned and operated by Orbach since 2008 and present a mix of market-rate and rent-stabilized units.","og_url":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-03-22T14:08:17+00:00","article_modified_time":"2022-12-06T06:18:59+00:00","og_image":[{"width":500,"height":375,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/"},"author":{"name":"Allison Landa","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"headline":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio","datePublished":"2011-03-22T14:08:17+00:00","dateModified":"2022-12-06T06:18:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/"},"wordCount":217,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","articleSection":["Featured","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/","name":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","datePublished":"2011-03-22T14:08:17+00:00","dateModified":"2022-12-06T06:18:59+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","width":"500","height":"375","caption":"Courtesy Flickr Creative Commons user morrissey"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-orbach-acquire-manhattan-multi-family-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phoenix, Orbach Acquire NYC Multi-Family Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/03\/morrissey4.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004027942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004027942"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004027942\/revisions"}],"predecessor-version":[{"id":1004630708,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004027942\/revisions\/1004630708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004027943"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004027942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004027942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004027942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}