Erik Hirsch & Juan Delgado-Moreira Of Hamilton Lane Acquire Multifamily Assets For $62.9M In Manhattan
384 Broome Street, 55 Delancey Street, 9 Christopher Street & 233 Elizabeth Street
$62,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 26, 2025
AI
The transaction involves multifamily assets located at 384 Broome Street, 55 Delancey Street, 9 Christopher Street, and 233 Elizabeth Street in the Manhattan market. The sale price was $62,900,000. This transaction includes a total of five Dalan Real Estate walkup buildings, of which RWN Real Estate Partners sold an 85% stake to the buyer.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $62,900,000
- Buyer: Erik Hirsch & Juan Delgado-Moreira
- Buyer’s Company: Hamilton Lane
- Seller: Ari M. Shalam
- Seller’s Company: RWN Real Estate Partners
- Date of Transaction: 02/26/2025
Hamilton Lane, which manages nearly $1 trillion in assets under management, is the entity that acquired the stake from RWN Real Estate Partners, marking a significant investment in Manhattan's multifamily market.
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93