Updated Dec 12, 2024
Eugene Asset Management, Meritz Securities Co. & The Related Companies Secure $172.9M Loan For Upper West Side Multifamily Acquisition
255 West 94th Street, New York City, New York 10025, United States
$172,900,000
$608/SF
Building Size
284,000 SF
Asset Type
MultiFamily
Closing
Apr 20, 2022
About this deal
AI
A multifamily property located at 255 W. 94th St. in the Upper West Side has been acquired through a loan transaction. The property, spanning approximately 284,000 square feet, comprises 285 units and is situated in a desirable neighborhood.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $172,900,000
- Address: 255 W. 94th St.
- Market: Upper West Side
- Size: 284,000 square feet
- Units: 285
The loan for the acquisition was provided by Wells Fargo and Fannie Mae. Represented by Cushman & Wakefield, the landlord of the property is Eugene Asset Management, along with Meritz Securities Co. and The Related Companies. The deal was facilitated by brokers Gideon Gil, Lauren Kaufman, Adam Spies, Doug Harmon, and Marcella Fasulo from Cushman & Wakefield.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93