NEW YORK CITY—Shorenstein Company, LLC has increased its multifamily portfolio with the $57-million purchase of 200 E. 11th St. in the East Village from New York City-base Benchmark Real Estate Group.
Shorenstein, headquartered in San Francisco, closed on the 54-unit property earlier this week. Holliday Fenoglio Fowler, L.P. brokered the sale and arranged $31 million in acquisition financing for Shorenstein through Helaba. Shorenstein Co. is led by its vice chairman Brandon Shorenstein.
The recently renovated 12-story property at the corner of East 11th Street and Third Avenue totals 53,000-square feet and 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 features a rooftop deck with lounge space and a recently constructed, three-story amenity building that features a new lobby, gym and yoga studio.
HFF marketed the property on behalf of Benchmark Real Estate Group, and procured the buyer. Managing directors Jeff Julien and Rob Hinckley and associate director Steven Rutman led the HFF investment sales team. HFF's debt placement team was led by director Geoff Goldstein, managing director Scott Aiese and associate Rory Shepard.
Shorenstein, headquartered in San Francisco, closed on the 54-unit property earlier this week. Holliday Fenoglio Fowler, L.P. brokered the sale and arranged $31 million in acquisition financing for Shorenstein through Helaba. Shorenstein Co. is led by its vice chairman Brandon Shorenstein.
The recently renovated 12-story property at the corner of East 11th Street and Third Avenue totals 53,000-square feet and 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 features a rooftop deck with lounge space and a recently constructed, three-story amenity building that features a new lobby, gym and yoga studio.
HFF marketed the property on behalf of Benchmark Real Estate Group, and procured the buyer. Managing directors Jeff Julien and Rob Hinckley and associate director Steven Rutman led the HFF investment sales team. HFF's debt placement team was led by director Geoff Goldstein, managing director Scott Aiese and associate Rory Shepard.
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