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Brokerage
Posted: April 8, 2013
Scandalios, Cruz, Julien and O'Hearn of HFF close $70 million sale; Sold by Dermot Company and Henderson Global JV to Orbach Group
HFF closed the sale of The Hamilton, a 178-unit, class A multi-housing property on the Upper West Side for $70 million.
HFF marketed the properties on behalf of the seller, a joint venture between the Dermot Company and Henderson Global Investors. The Orbach Group purchased the property free and clear of existing debt.
"Manhattan's Upper West Side is a vibrant community with high-quality, well-located rental units at a premium," said Meyer Orbach, president of The Orbach Group.
The Hamilton is located at 210-230 West 107th St. between Broadway and Amsterdam Ave. The 95% leased property consists of three adjacent mid-rise buildings with units averaging 779 s/f each.
The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeff Julien and Kevin O'Hearn.
The Dermot Co. is led by principals, William Dickey and Stephen Benjamin.
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