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Black Spruce Management Acquires Multifamily Portfolio In Upper West Side And Harlem For $200M

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SOLD
$200,000,000

National

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Sold 12/02/2020
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Property Image
SOLD

Black Spruce Management Acquires Multifamily Portfolio In Upper West Side And Harlem For $200M

Sold 12/02/2020
the dealdetailscomps

Summary

Transaction Type:Sale

Players

Black Spruce Management
Black Spruce Management
BUYER
Orbach Group
Orbach Group
SELLER

Details

SOLD
IMAGE: IMAGE: @MeyerOrbach & @AaronJungreis ? MARKET: Upper West Side, Harlem ASSET TYPE: Multifamily Portfolio BUYER: Black Spruce Management SELLER: Orbach Group ? ? BROKER: Aaron Jungreis – @RosewoodRealtyGroupNY PRICE: $200,000,000 (approx.) UNITS: 675 ~ PPU: $296,296

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$10,666,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$710,557.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$948,102.04
Annual Debt Service$11,377,224.42