
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.”
- ◦Sale/Acquisition