Ron Zeff’s Carmel Partners is buying into a $500 million multifamily portfolio that was pitched as an investment shielded from a potential rent freeze under Mayor Zohran Mamdani. The investment firm is nearing a deal to buy MetLife’s minority stake in a 5 building, 710-unit portfolio near Columbus Circle, The Real Deal has learned. Four of the five buildings are free market, and the fifth is subject to an older 421a agreement under which an owner could raise rents by 47 percent before hitting their legal rent limits. MetLife put its piece of the deal up for sale over the […]

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