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Time Equities Acquires 306-312 West 97th St.

NEW YORK CITY- Time Equities Inc. has acquired 306-312 West 97th St. Grubb & Ellis represented the buyer as well as the seller.

By Barbara Jarvie | Updated on May 14, 2003

NEW YORK CITY-Grubb & Ellis Company represented Time Equities, Inc. in the acquisition of 306-312 West 97th Street. Grubb & Ellis also represented the seller. The two identical and adjacent rent-regulated apartment buildings jointly contain 57 units. The seven-story elevator buildings, constructed in 1910 and located on the Upper West Side, are within walking distance of Riverside Park.

The only financial information available is that the purchase price represented more than 13 times the rent roll for the buildings.

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