A&E Real Estate Makes Second Upper West Side Buy from Equity Residential
A CBRE team led by Darcy Stacom, chairman of NYC Capital Markets, arranged the $415-million sale of 160 Riverside Blvd. on Manhattan’s Upper West Side to A&E Real Estate on behalf of Equity Residential. The transaction comes on the heels of A&E’s $266-million acquisition of a sister property at 140 Riverside Blvd. in April, 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 the NYC Capital Markets team, who partnered with Stacom on the transaction.
“While most other investors adopted a guarded approach throughout the pandemic, A&E never wavered in our confidence in New York City’s multifamily sector,” said Douglas Eisenberg, executive chairman of A&E. “Our strategy has allowed us to significantly expand and diversify our New York City portfolio, especially in core Manhattan neighborhoods.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).