Updated Dec 4, 2024
Fetner Properties & Farallon Capital Acquire Multifamily On Upper East Side
85 East End Avenue
$75,000,000
$419/SF
Building Size
179,000 SF
Asset Type
MultiFamily
Closing
Jun 21, 2024
About this deal
AI
The multifamily property located at 85 East End Avenue in Upper East Side was sold for $75,000,000. The property consists of 155 units with a price per unit of $483,871. The total square footage of the property is 179,000, with a price per square foot of $419.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $75,000,000
- Buyer: Fetner Properties & Farallon Capital Management
- Seller: Blackrock
- Brokers: Doug Middleton, William Shanahan & Nicole Okoli - CBRE
The sale of the property at 85 East End Avenue was facilitated by the brokerage team of Doug Middleton, William Shanahan, and Nicole Okoli from CBRE. Fetner Properties & Farallon Capital Management served as the buyers, while Blackrock acted as the sellers in this transaction.
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93