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305 West End Avenue, Manhat...

Engel Burman & Christopher Merrill Acquire Senior Care Facility On Upper West Side For $88M
SOLDOther

Engel Burman & Christopher Merrill Acquire Senior Care Facility On Upper West Side For $88M

305 West End Avenue, Manhattan, New York, NY, USA

$87,985,000

$478/SF

Building Size

184,011 SF

Asset Type

Other

Closing

Aug 6, 2020

AI

305 West End Avenue, located in the Upper West Side neighborhood, has been sold in an interest sale transaction. The property is a senior care facility with a total area of approximately 184,011 square feet.

Summary of Transaction Details

  • Property Type: Senior Care Facility
  • Transaction Amount: $87,985,000
  • Buyer: Engel Burman & Christopher Merrill - Harrison Street Real Estate Capital
  • Seller: Ran Eliasaf - Northwind Group

The buyer of the property, Engel Burman & Christopher Merrill, represented by Harrison Street Real Estate Capital, acquired an approximate 50% interest in 305 West End Avenue. On the other hand, the seller, Ran Eliasaf, represented the Northwind Group in this transaction.

Players

HC
Harrison Street Real Estate CapitalBuyer

Christopher Merrill

Harrison Street

Buyer

$1.4B

vol

12 deals

Buyer

Ran Eliasaf

Northwind Group

Seller

$2.2B

vol

17 deals

Seller

New York Other Market Snapshot

Boundary boundary · Other · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93