SOLD
Blackstone Acquires Multifamily Property In Financial District For $930M
8 Spruce Street
MultiFamily
1,109,231 SF
1,109,231 SF
Sold 1 year ago
Summary
Sale
NEW YORK
MultiFamily
1,109,231 sqft
Located at 8 Spruce St in the Financial District, this multifamily property has recently been sold in a closed transaction. The property spans over 1,109,231 square feet, offering a total of 899 units. The sale price for this transaction was $930,000,000, resulting in an average price per unit of $1,034,482 and a price per square foot of $838.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $930,000,000
- Units: 899
- Price per Unit: $1,034,482
- Square Footage: 1,109,231
- Price per Square Foot: $838
The sale was facilitated by Eastdil Secured, with brokers Will Silverman, Gary Phillips, Jeff Organisciak, and Drew Isaacson representing the parties involved. The buyer of the property was Blackstone, while the sellers were Brookfield Properties and NuveenINV.
Players
All
5
Agents
4
Agencies
1
Details
SOLD
IMAGE: Jon Gray, Kenneth Kaplan, Stephen Schwarzman, Kathleen McCarthy, Bruce Flat, Brian Kingston, Mike Sales, Drew Isaacson, Gary Phillips, Jeff Organisciak & Will Silverman
DATE: 01/03/2022
ADDRESS: 8 Spruce St.
MARKET: Financial District
ASSET TYPE: Multifamily
BUYER: @Blackstone
SELLER: @BrookfieldProperties & @NuveenINV
BROKERS: Will Silverman, Gary Phillips (@Garyty123), Jeff Organisciak & Drew Isaacson - Eastdil Secured (@EastdilSecured)
SALE PRICE: $930,000,000
UNITS: 899 ~ PPU: $1,034,482
SF: 1,109,231 ~ PPSF: $838View on map
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Address8 Spruce Street
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