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Dalan Management Acquires 85% Stake In Grand Central Multifamily Building For $34.6M

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FINANCED
$34,552,500
AW
AS

New York

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MultiFamily135,315 SF
Financed 05/22/2023
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FINANCED

Dalan Management Acquires 85% Stake In Grand Central Multifamily Building For $34.6M

230 E 44th St, New York, NY 10017, United States

See Similar Deals
MultiFamily135,315 SF
Financed 05/22/2023
AW
AS
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$255
Total Square Footage:135,315 SF
Transaction Type:Loan

An 85 percent stake in a 164-unit residential building located at 230 East 44th Street in Grand Central, Manhattan has been purchased by Dalan Management. The deal, which closed on May 22, 2023, involved a payment of $34.6 million to RWN Real Estate Partners. The property spans 135,315 square feet and was sold at a price of $255 per square foot.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $34,552,500
  • Address: 230 East 44th Street, Grand Central, Manhattan
  • Square Footage: 135,315
  • Buyer: Dalan Management - Andrew Wrublin
  • Seller: RWN Real Estate Partners - Ari Shalam

Dalan Management, led by Andrew Wrublin, acquired the majority stake in the residential building at 230 East 44th Street. RWN Real Estate Partners, represented by Ari Shalam, acted as the seller in the transaction.

Players

AW
Dalan Management
Andrew Wrublin
2 deals$34.6M volume
BUYER
AS
Ari Shalam
3 deals$156.1M volume
SELLER

Details

FINANCED
IMAGE: Ari Shalam DATE: 05/22/2023 ADDRESS: 230 East 44th Street MARKET: Grand Central, Manhattan ASSET TYPE: Multifamily BUYER: Dalan Management (@DalanManagement) - Andrew Wrublin SELLER: RWN Real Estate Partners - Ari Shalam (@Ari_Shalam) SALE PRICE: $34,552,500 SF: 135,315 ~ PPSF: $255 NOTE: Dalan Management has purchased an 85 percent stake in a 164-unit residential building located at 230 East 44th Street in Grand Central, Manhattan. The deal, which closed on May 22, 2023, involved a payment of $34.6 million to RWN Real Estate Partners.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,552,500.00

Monthly NOI$230,350.00
Monthly Debt Service$218,395.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00