86 Clinton Street
86 Clinton Street, New York, NY, 10002, US
20 unités
Description de l'actif
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the fee simple sale of Riverbank (the “Property”) a 44-story multi-housing asset located at 560 West 43rd Street in the Midtown West neighborhood of Manhattan, New York. Riverbank’s 418 rental units are 100% fair market and the Property features nearly 18,000 square feet of retail as well as a below grade parking garage.
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Attributs
Nombre d'unités
418
Occupation
97 %
Année de construction
1987
Superficie du bâtiment nette
36 053 mètres carrés
Média
Points forts de l'investissement
- Extremely rare opportunity to acquire a 100% fair market asset at a value that is +/- 45% discount to replacement cost (assuming $1,400 PSF for new tower construction)
- Institutionally owned and managed for over 30 years
- Luxury apartment homes are well appointed with high end finishes, private balconies, and an extensive amenity package
- 90% of units have private balconies
- In place rents are 11% below the competitive set, representing a significant upside opportunity
- Blue chip resident demographic - Riverbank’s location and extensive amenity package attracts affluent, young residents whose average income is more than 2.75x higher than the New York City average
- Walkability to Hudson Yards – Riverbank residents are a short 12-minute walk to Manhattan’s leading employment hub (~19 million square feet of new Class A office space)
- Multifamily fundamentals projected to remain robust due to stifled residential construction pipeline and strong demand
- Dynamic waterfront neighborhood — Proximate to the Hudson River, and an array of shopping, dining, and recreational activities on the West Side
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Riverbank Apartments (0 Propriétés)
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Dernière mise à jour
22 avr. 2025
