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Related Said to Sell NYC’s Monterey for $250 Million

Related Cos. agreed to sell one of its biggest Manhattan apartment towers to real estate investor Rubin Schron, a partial owner of the Woolworth Building, according to two people with knowledge of the deal.

Schron’s Cammeby’s International Group is in contract to acquire the Monterey, a 521-unit property on East 96th Street, for about $250 million, according the people, who asked not to be named because the transaction is private. It would be the largest sale of a Manhattan multifamily building this year, according to data from Real Capital Analytics Inc.