Kenneth F. Bernstein Of Acadia Realty Trust Purchases Multifamily Property From Sam Loughlin For $55M

The property asset involved in this transaction is a multifamily unit located at 106 Spring Street in SoHo, Manhattan. The sale was completed at a transaction price of $55,000,000 for a total of 10 units, resulting in a price per unit of $5,500,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $55,000,000
• Buyer: Kenneth F. Bernstein - Acadia Realty Trust
• Seller: Sam Loughlin - Paceline Equity Partners
• Units: 10
• Price Per Unit: $5,500,000

Acadia Realty Trust, through its entity 106 Spring Retail Owner LLC, was responsible for acquiring the retail cooperative unit from Paceline Equity Partners' Soho Operating Company, LLC, indicating a structured transaction between institutional investors in the real estate market.