Between the Bricks
By Lois Weiss
Last Updated: 11:45 PM, March 8, 2011

Pantzer Properties, owned by Edward, Jason and Jordan Pantzer, and their 50/50 partners, Daniel Neidich's Dune Real Estate Partners, have bought the senior mezzanine slice of a $200 million loan on the Icon's portfolio. The loan covers 36 prewar apartment buildings with 786 apartments and 12 retail stores.

Thirty-four of the buildings are in the Upper East Side area bounded by E. 55th St. and E. 89th St. and Third and York Avenues. The loan is current and was marketed by Eastdil Secured's team of Douglas Harmon, Adam Spies and Jonathan Firestone.

Last week, Pantzer and Dune closed the $460 million purchase of the eight- property, 2,580 unit multifamily Magazine Portfolio in Washington, D.C. that was previously part of the Town & Country REIT.

According to Jones Lang LaSalle, whose Mid-Atlantic office brokered the transaction, the $460 million sale is the largest multifamily deal in the US since 2008.