Blackstone Closes In on Second Largest New York Apartment Deal of 2018

Blackstone is set to swallow up another massive New York apartment complex in a deal that, once completed, would stand as the second largest single multifamily sale in the state this year.

Blackstone’s Property Partners vehicle, an open-ended fund that has led the investment giant’s push into the New York rental market, has agreed to pay about $500 million, or approximately $382,000 per unit, for Parker Towers, in the Forest Hills neighborhood…