Ares Management Acquires Multifamily Asset From Mitsui Fudosan For $267 Million In Hell's Kitchen

The asset involved in the transaction is a multifamily property located at 525 West 52nd Street in the Hell's Kitchen market. The sale price was $267,000,000, encompassing 392 units. The property's total square footage is 305,825, resulting in a price per unit of $681,122 and a price per square foot of $873.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $267,000,000
• Units: 392
• Square Footage: 305,825
• Price Per Unit: $681,122
• Price Per Square Foot: $873
• Buyer: Ares Management
• Seller: Mitsui Fudosan
• Brokers: Adam Spies, Adam Doneger, Joshua King, Marcella Fasulo, Avery Silverstein, Michael Collins & Meaghan Philbin - Newmark

The individuals responsible for the transaction include Adam Spies, Adam Doneger, Joshua (Josh) King, Marcella Fasulo, Avery Silverstein, Michael Collins, and Meaghan Philbin, all representing Newmark in the deal. Ares Management is the buyer, while Mitsui Fudosan is the seller, facilitating this significant multifamily property transaction.