Greystar buys three NYC rental buildings for $336M
News Article
March 2, 2016
Greystar Real Estate Partners snapped up three New York City rental buildings for $336.3 million, in another sign that investors remain bullish on multifamily properties.
The Charleston-based fund manager paid $211.3 million for the 204-unit rental building 160 West 24th Street in Chelsea from Chicago-based LaSalle Investment Management. In a separate deal, it bought two new rental developments in Williamsburg – 247 North 7th Street and 248 North 8th Street – from Adam America Real Estate for $125 million. The firm is buying the properties through its fund Greystar Equity Partners VIII.
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The Charleston-based fund manager paid $211.3 million for the 204-unit rental building 160 West 24th Street in Chelsea from Chicago-based LaSalle Investment Management. In a separate deal, it bought two new rental developments in Williamsburg – 247 North 7th Street and 248 North 8th Street – from Adam America Real Estate for $125 million. The firm is buying the properties through its fund Greystar Equity Partners VIII.
For entire article, click View More below.