US multifamily property investor A&E Real Estate has invested $415m (€411m) to buy a second luxury residential asset on Manhattan’s Upper West Side from Sam Zell’s Equity Residential.
CBRE, 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’s acquisition of a sister property at 140 Riverside Boulevard in April for $266m, which was also arranged by CBRE.
“Both 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,” said Ryan Silber, VP on CBRE’s NYC capital markets team.
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