US multifamily property investor A&E Real Estate has invested $415m (鈧�411m) to buy a second luxury residential asset on Manhattan鈥檚 Upper West Side from Sam Zell鈥檚 Equity Residential.
, which announced the deal, said it arranged the sale of 160 Riverside Boulevard to the New York-based apartment investor on behalf of Equity Residential.
Situated between West 67th Street and West 68th Street overlooking the Hudson River, 160 Riverside Boulevard features 455 luxury rental apartments, a suite of amenities, the Dwight School, commercial space and parking, all with direct access to the Hudson River Park system.
The latest deal follows A&E Real Estate鈥檚 acquisition of a sister property at 140 Riverside Boulevard in April for $266m, which was also arranged by CBRE.
鈥淏oth 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,鈥� said Ryan Silber, VP on CBRE鈥檚 NYC capital markets team.
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