Engel Burman & Christopher Merrill Acquire Senior Care Facility On Upper West Side For $88M
SOLD
$87,985,000
New York
See Similar DealsOther184,011 SF
Sold 08/06/2020
SOLD
Engel Burman & Christopher Merrill Acquire Senior Care Facility On Upper West Side For $88M
305 West End Avenue, Manhattan, New York, NY, USA
See Similar DealsOther184,011 SF
Sold 08/06/2020
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$478
Total Square Footage:184,011 SF
Transaction Type:Sale
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
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,692,533.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$312,592.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$417,093.79
Annual Debt Service$5,005,125.45
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