Updated Nov 3, 2025
Laura Hines-Pierce Of Hines Acquires Multifamily Asset From Mahbod Nia Of Veris Residential For $63M
64 Midland Place
$63,000,000
Units
108
Asset Type
MultiFamily
Closing
Oct 28, 2025
About this deal
AI
The property involved in the transaction is a multifamily asset located at 64 Midland Place in Tuckahoe. It comprises 108 units, with a price per unit of $583,333, culminating in a total sale price of $63,000,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $63,000,000
- Units: 108
- Price Per Unit: $583,333
- Buyer: Laura Hines-Pierce - Hines
- Seller: Mahbod Nia - Veris Residential
- Brokers: Jose Cruz & Steve Simonelli - JLL
The sale was brokered by JLL Capital Markets, which facilitated the transaction between the buyer, Hines, and the seller, Veris Residential. This deal reflects the ongoing activity within the multifamily market in Tuckahoe, NY.
Players
Tuckahoe MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $583.3K per unit across 108 units on a published $63M (2025).
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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