---
title: "Carmel Partners Seals Acquisition of UWS Multifamily Portfolio Minority Stake"
url: https://burnaze.com/article/b9e1d3fe-af39-426e-a436-b5b4ce456342
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/05/carmel-partners-metlife-uws-newmark/
category: "Real Estate"
topics: ["Finance & M&A"]
published: 2026-05-19T18:28:52.000Z
modified: 2026-10-31T13:18:29.585Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/05/Adam-Spies-Adam-Donegar-795-Columbus-805-Columbus-801-Amsterdam-775-Columbus-credit-Propertyshark-and-Jim-Henderson_CC0-via-Wikimedia-Commons.jpg?quality=80&resize=1200%2C630&strip=
---

# Carmel Partners Seals Acquisition of UWS Multifamily Portfolio Minority Stake

**TL;DR:** Carmel Partners has acquired a 49% stake in a five-building multifamily portfolio on the Upper West Side from MetLife. The portfolio, known as the Columbus Square Collection, was valued at approximately $485 million.

*originally published in Commercial Observer on 2026-05-19. [Read the original](https://commercialobserver.com/2026/05/carmel-partners-metlife-uws-newmark/).*

## Story

**Carmel Partners** has officially closed on its acquisition of a 49 percent stake in a five-building multifamily portfolio on the Upper West Side, Commercial Observer has learned.

The firm purchased the stake from **MetLife. UDR**, a Colorado-based, publicly traded real estate investment trust and the majority stakeholder, is remaining in the deal.

The portfolio — which is comprised of **801 Amsterdam Avenue** plus **775**, **795**, **805** and **808 Columbus Avenue** and is known as the **Columbus Square Collection** — traded at a roughly $485 million valuation, sources said.

**Newmark**’s **Adam Spies**, **Adam Doneger**, **Marcella Fasulo**, **Doug Harmon** and **Michael Collins** negotiated the sale, which includes in-place, fixed-rate financing that Carmel will step into, sources said.

The in-place **Fannie Mae** debt, provided by **Wells Fargo** has an interest rate of yore of just 2.6 percent through 2031, according to an offering memorandum viewed by CO.

*The Real Deal* reported in January that a sale was in the works, but it closed only recently, sources said.

Sitting between 97th and 100th streets, the 492,000-square foot, 707-unit portfolio was constructed in 2009 and is currently 50 percent market-rate and 50 percent rent-stabilized. The building at 808 Columbus Avenue benefits from the state’s 421a tax abatement through 2031, its exemption percentage currently sitting at 60 percent.

UDR and MetLife purchased the portfolio for $630 million in 2012 from **Stellar Management** and **Chetrit Group**.

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- Wells Fargo (company)
- Newmark (company)
- real estate acquisition (topic)
- MetLife (company)
- Fannie Mae (company)
- Adam Doneger (person)
- Adam Spies (person)
- Marcella Fasulo (person)
- Doug Harmon (person)
- Carmel Partners (company)

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Originally reported by Commercial Observer (https://commercialobserver.com/2026/05/carmel-partners-metlife-uws-newmark/). Summarized by Burnaze (https://burnaze.com/article/b9e1d3fe-af39-426e-a436-b5b4ce456342).