Eugene Asset Management Acquires Multifamily Property On Upper West Side For $266M
SOLD
$266,000,000
+ 2
New York
See Similar DealsMultiFamily284,000 SF
Sold 04/27/2022
SOLD
Eugene Asset Management Acquires Multifamily Property On Upper West Side For $266M
255 West 94th Street, New York City, New York 10025, United States
See Similar DealsMultiFamily284,000 SF
Sold 04/27/2022
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$936
Total Square Footage:284,000 SF
Transaction Type:Sale
Eugene Asset Management has acquired a multifamily property located at 255 West 94th Street on the Upper West Side. The transaction was facilitated by brokers Adam Spies, Doug Harmon, and Marcella Fasulo from Cushman & Wakefield. The property consists of 285 units, with a sale price of $266,000,000, resulting in a per unit price of $933,333. The total square footage of the property is 307,500, leading to a price per square foot of $865.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $266,000,000
- Address: 255 West 94th Street, Upper West Side
- Market: Upper West Side
The acquisition was completed by Eugene Asset Management, with the assistance of brokers Adam Spies, Doug Harmon, and Marcella Fasulo from Cushman & Wakefield. The property offers 285 units and spans over a total of 307,500 square feet, making it an attractive investment opportunity within the Upper West Side market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$14,186,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$945,041.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,260,975.71
Annual Debt Service$15,131,708.48
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