Meadow Partners Acquires Two Apartments in NYC for $58M
Multi-family development located in the East Village sells for $58M
Meadow Partners has acquired 305 East 11th Street and 310 East 12th Street, adjacent multifamily residential buildings in New York City’s East Village for approximately $58 million.
Located between First and Second Avenues and totaling 89 units, the elevatored buildings are connected by an 11,000 square foot courtyard. Constructed in 1940, the buildings’ studios, and one- and two-bedroom units include architectural features such as arched doorways and moldings. The property is located near shopping, retail, nightlife, and multiple public transportation options.
60 Guilders is Meadow’s operating partner for the property.
The acquisition of this property marks Meadow’s ninth investment in the East Village, and brings total residential units the firm has acquired in the submarket to 430 since inception.
An affiliate of Cerberus Capital Management provided debt financing to support the acquisition.