US multifamily property investor A&E Real Estate has invested $415m (鈧�411m) to buy a second luxury residential asset on Manhattan鈥檚 Upper West Side from Sam Zell鈥檚 Equity Residential.

, which announced the deal, said it arranged the sale of 160 Riverside Boulevard to the New York-based apartment investor on behalf of Equity Residential.

Situated between West 67th Street and West 68th Street overlooking the Hudson River, 160 Riverside Boulevard features 455 luxury rental apartments, a suite of amenities, the Dwight School, commercial space and parking, all with direct access to the Hudson River Park system.

The latest deal follows A&E Real Estate鈥檚 acquisition of a sister property at 140 Riverside Boulevard in April for $266m, which was also arranged by CBRE. 

鈥淏oth 140 Riverside and now 160 Riverside offered A&E the unique opportunity to own two of the highest-quality apartment towers on the Upper West Side,鈥� said Ryan Silber, VP on CBRE鈥檚 NYC capital markets team.

To read the latest edition of the latest 麻豆映画 Real Assets magazine click here.

Raz joined the 麻豆映画 editorial team in 2017 as news editor of 麻豆映画 Real Assets. He has over 15 years of experience as a financial journalist, having worked for Dow Jones Newswires and The Wall Street Journal where he worked as an equities reporter covering corporate news. He later covered consumer finance and moved on to become a leisure reporter and helped manage the London corporate news and small-cap desk.View full Profile

More from Razak Musah Baba

Topics