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The Aldyn & The Ashley

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Multi-Housing - Investment Sale & Debt Placement

Location:
Upper West Side on Riverside Boulevard 63rd Street, New York, NY
Asset Type:
Two Trophy Class A Residential Towers
Size:
345 Units
357,680 SF (11,959 SF Retail)
Description:
  • Property subject to 421a developer tax incentive program that subjects all units to rent regulation, program has eight years remaining at time of sale.
  • The Aldyn portion is a condominium (first 10 stories) below 150 for-sale condominium units, there is a shared lobby.
  • The Properties are part of the greater Riverside Center development encompassing 8.5 million SF, 56 acres, 11 existing buildings and appx. six future sites.
  • HFF provided low-leverage financing for the Buyer.
Date Closed:
April 2013

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