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Brokerage
Posted: July 4, 2017
Julien, Hinckley, Rutman of HFF close $57 million sale of 54-unit apartment property in the East Village; firm secures $31 million in acquisition financing through Helaba
Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has closed the $57 million sale of and arranged $31 million in financing for 200 East 11th St., a 54-unit, newly renovated apartment property in the East Village.
HFF marketed the property on behalf of the seller, Benchmark Real Estate Group, and procured the buyer, Shorenstein Co. LLC. Additionally, HFF secured acquisition financing on the new owner’s behalf through Helaba.
The HFF investment sales team was led by managing directors Jeff Julien and Rob Hinckley and associate director Steven Rutman.
HFF’s debt placement team was led by director Geoff Goldstein, managing director Scott Aiese and associate Rory Shepard.
The 12-story, 53,000 s/f building consists of 54 one-, two- and three-bedroom residential units, all of which are fair market. Apartment amenities include new windows, oak flooring, in-unit washers and dryers and new heating/cooling units. The property also has a rooftop deck with lounge space and a recently constructed, three-story amenity building that houses a new lobby, gym and yoga studio.
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