Real estate investment platform CrowdStreet announced an offering for an equity investment opportunity in a luxury apartment in Midtown, Manhattan, New York.
The Centra is located near Grand Central Station and the Wall Street Financial District. The 14-story, 164-unit, Class A residential property is being acquired in an off-market and direct-to-owner transaction by deal sponsor Dalan Management, which is seeking to recapitalize an 85% stake in the property at what is considered to be an above-market cap rate and below-market basis.
Midtown-East is a highly desirable submarket that has a strong demographic base with an average median income 150% above the U.S. average. The submarket has seen a post-COVID surge in demand. Since 2021, median ...
Full story available on Benzinga.com
Continue reading...
The Centra is located near Grand Central Station and the Wall Street Financial District. The 14-story, 164-unit, Class A residential property is being acquired in an off-market and direct-to-owner transaction by deal sponsor Dalan Management, which is seeking to recapitalize an 85% stake in the property at what is considered to be an above-market cap rate and below-market basis.
Midtown-East is a highly desirable submarket that has a strong demographic base with an average median income 150% above the U.S. average. The submarket has seen a post-COVID surge in demand. Since 2021, median ...
Full story available on Benzinga.com
Continue reading...