Northwestern Mutual Life Insurance Acquires Multifamily Property In Battery Park City For $332.1M

Located in Battery Park City, the multifamily property at 20 River Terrace has been sold in a closed transaction. Spanning a total area of 356,786 square feet, the property consists of 293 units. The sale of this asset was completed on August 18, 2022, and the buyer was Northwestern Mutual Life Insurance, represented by Angela Scodellaro. The seller, Albanese Organization, was represented by Christopher V. Albanese. The sale price for the property was $332,134,280, resulting in a price per unit of $1,133,564 and a price per square foot of $930.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $332,134,280
• Units: 293
• Price per Unit: $1,133,564
• Square Footage: 356,786
• Price per Square Foot: $930

Angela Scodellaro, representing Northwestern Mutual Life Insurance, played a key role in the transaction as the buyer. On the seller's side, Christopher V. Albanese, representing Albanese Organization, facilitated the deal. This closed transaction signifies a significant move in the Battery Park City market.