Updated Sep 5, 2025
Dalan Real Estate And Hamilton Lane Acquire Alphabet City Multifamily For $19.8M From Udi Kore
194 Avenue A, 196 Avenue A & 503 East 12th Street
$19,800,000
$404/SF
Building Size
16,336 SF
Asset Type
MultiFamily
Closing
Aug 13, 2025
About this deal
AI
The transaction involves three multifamily properties located at 194 Avenue A, 196 Avenue A, and 503 East 12th Street in the Alphabet City area of Manhattan. The total sale price for the assets was $19,800,000, with a combined square footage of 16,336 and a price per square foot of $1,212.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,800,000
- Buyer: Dalan Real Estate & Hamilton Lane
- Seller: Udi Kore - Avenue Realty Capital
- Total Square Footage: 16,336
- Price Per Square Foot: $1,212
Hamilton Lane, through its Va Re Sma LP entity, acquired a 90% stake in the three properties from Avenue Realty Capital. This transaction illustrates the collaboration between notable entities in the real estate sector, with significant involvement from both Dalan Real Estate and Hamilton Lane in the acquisition process.
On the Map
$19,800,000
$404/SF
MultiFamily
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Players
New York 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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93