RCR Management Acquires Multifamily Property On Upper West Side For $90M

Located in the Upper West Side neighborhood, the multifamily property at 98 Riverside Dr. was recently sold in a closed transaction. The sale was facilitated by JLL brokers Jeffrey Julien, Rob Hinckley, Hall Oster, Steven Rutman, and John Taylor. The property spans 154,387 square feet, offering 128 units to its residents. The purchase was made by RCR Management, who acquired the property from BlackRock for a total price of $90,000,000. This translates to a price per square foot of $582, and a price per unit of $703,125.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $90,000,000
• Address: 98 Riverside Dr.
• Market: Upper West Side
• Square Footage: 154,387
• Number of Units: 128
• Buyer: RCR Management
• Seller: BlackRock
• Brokers: Jeffrey Julien, Rob Hinckley, Hall Oster, Steven Rutman, and John Taylor - JLL

The sale of this property on 98 Riverside Dr. showcases the expertise of the JLL team, led by brokers Jeffrey Julien, Rob Hinckley, Hall Oster, Steven Rutman, and John Taylor. With a successful transaction amount of $90,000,000, this deal further solidifies the market value of properties in the Upper West Side. The collaboration between the buyer and seller, RCR Management and BlackRock respectively, demonstrates the ongoing activity and growth in the real estate industry.