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HUBB NYC Acquires Multifamily Portfolio In Upper East Side & Upper West Side For $99.88M

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FINANCED
$99,880,000
Lauren Kaufman
Gideon Gil
+ 2

New York

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MultiFamily174,118 SF
Financed 03/18/2022
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Property Image
FINANCED

HUBB NYC Acquires Multifamily Portfolio In Upper East Side & Upper West Side For $99.88M

182-188 Columbus Avenue, New York City, New York 10023, United States

See Similar Deals
MultiFamily174,118 SF
Financed 03/18/2022
Lauren Kaufman
Gideon Gil
+ 2
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$573
Total Square Footage:174,118 SF
Transaction Type:Loan

The property involved in the transaction is located at 182-188 Columbus Avenue, 464-466 Amsterdam, 200-210 West 83rd Street, 181-199 Columbus Avenue, 1582 First Avenue, 306 East 89th Street, 311 and 313 East 73rd Street, 322 East 61st Street, 452 East 78th Street, 510 East 88th Street, 514 East 88th Street, and 518 East 88th Street. It is a multifamily asset with a total square footage of 174,118 and consists of 361 units. The property is situated in the Upper East Side and Upper West Side markets.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $99,880,000
  • Lender: JP Morgan CTL
  • Landlord: HUBB NYC

The loan for this transaction was provided by JP Morgan CTL. Cushman & Wakefield represented the buyer, seller, landlord, and tenant in the deal. The loan amount was $99,880,000, and it was an acquisition loan with a term of 10 years. The loan terms included a 10-year interest-only portfolio loan.

Players

Lauren Kaufman
35 deals$5.4B volume(312) 470-1800
BROKER

Lauren Kaufman
JLL
35 deals$5.4B volume(312) 470-1800
BROKER

Adam Spies
Newmark
260 deals$71.4B volume(212) 841-7500
BROKER

Gideon Gil
Cushman & Wakefield
48 deals$11.1B volume
BROKER

Zachary (Zach) Kraft
Cushman & Wakefield
22 deals$3.8B volume
BROKER

Sebastian Sanchez
Cushman & Wakefield
9 deals$862.6M volume
BROKER

J.P. Morgan Chase
LENDER

HUBB NYC
LANDLORD

Details

FINANCED
IMAGE: Adam Spies, Gideon Gil, Lauren Kaufman, Zachary Kraft & Sebastian Sanchez DATE: 03/18/2022 ADDRESS: 182-188 Columbus Avenue, 464-466 Amsterdam, 200-210 West 83rd Street, 181-199 Columbus Avenue, 1582 First Avenue, 306 East 89th Street, 311 and 313 East 73rd Street, 322 East 61st Street, 452 East 78th Street, 510 East 88th Street, 514 East 88th Street & 518 East 88th Street MARKET: Upper East Side & Upper West Side ASSET TYPE: Multifamily ~ SF: 174,118 ~ UNITS: 361 LENDER: JP Morgan CTL LANDLORD: HUBB NYC BROKERS: Adam Spies, Gideon Gil, Lauren Kaufman, Zachary Kraft & Sebastian Sanchez - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $99,880,000 LOAN TYPE: Acquisition LOAN TERMS: 10-Year, Interest Only Portfolio Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$99,880,000.00

Monthly NOI$665,866.67
Monthly Debt Service$631,309.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00