Shorenstein Nabs Manhattan Luxury Community for $57M
HFF brokered the sale and arranged $31 million in financing for the 54-unit, recently renovated apartment building located in Manhattan’s East Village neighborhood.
By Corina Stef
200 E. 11th St., New York City
Investment firm Benchmark Real Estate Group has sold a 54-unit boutique rental building in Manhattan to Shorenstein Properties for $57 million. Both parties were represented by HFF Managing Directors Jeff Julien and Rob Hinckley and Associate Director Steven Rutman. Additionally, HFF Director Geoff Goldstein, Managing Director Scott Aiese and Associate Rory Shepard secured $31 million in financing for Shorenstein, provided by Helaba.
Modernized features
The 53,000-square-foot property is located at 200 E. 11th St., in Manhattan’s East Village neighborhood. It comprises one-, two- and three-bedroom units. According to PropertyShark, the asset was built in 1986, and recently underwent a series of complete renovations conducted by Bromley Caldari Architects. Upgraded amenities include:
- New windows and heating/cooling units
- A rooftop deck with lounge space
- A newly constructed, three-story amenity building with a new lobby, state-of-the-art gym and yoga studio
- 24-hour doorman
- Private massage studio
- Oak and walnut flooring, glass panel windows and high-end fixtures
The building is located in the vicinity of restaurants, bars, clubs, retailers, hotels, banks, as well as near New York University, the School of Visual Arts and various parks such as Washington Square Park, Union Square Park and Gramercy Park. Transportation is facilitated by multiple subway and bus stations, located within walking distance.
Image courtesy of Bromley Caldari Architects
