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Erik Hirsch & Juan Delgado-Moreira Of Hamilton Lane Acquire Multifamily Assets For $62.9M In Manhattan
SOLD
$62,900,000
New York
See Similar DealsMultiFamily
Sold 02/26/2025
SOLD
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
See Similar DealsMultiFamily
Sold 02/26/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,354,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$223,470.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,178.09
Annual Debt Service$3,578,137.08
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