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15 Bank Street

David Schwartz's Waterton Acquires 502-Unit Multifamily Community In White Plains For $195M
SOLDMultiFamily

David Schwartz's Waterton Acquires 502-Unit Multifamily Community In White Plains For $195M

15 Bank Street

$195,000,000

Building Size

Asset Type

MultiFamily

Closing

Feb 8, 2024

AI

Waterton has purchased the 502-unit multifamily community, 15 Bank, located in White Plains, N.Y., from Heitman for a total amount of $195 million. The transaction was facilitated with the assistance of CBRE.

Summary of transaction details:

This transaction marks the acquisition of the 502-unit multifamily community, 15 Bank, by David Schwartz - Waterton. The property is located in White Plains, N.Y. and was sold by Maury R. Tognarelli - Heitman. The deal was facilitated by Daniel Blumenkrantz, Eric Apfel, Jeffrey Dunne, Stuart MacKenzie, and Travis Langer - CBRE. The total sale price for the property amounted to $195 million.

Players

Eric Apfel

CBRE

Broker

$1.9B

vol

26 deals

Broker

White Plains MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93