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
About this deal
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
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