HFF closes sale of multi-housing property in Manhattan’s Upper West Side

Andrew Scandalios

NEW YORK, NY – HFF announced today that it has closed the sale of The Hamilton, a 178-unit, Class A multi-housing property in Manhattan’s Upper West Side.

HFF marketed the properties on behalf of the seller, a joint venture between the Dermot Company and Henderson Global Investors.  The Orbach Group purchased the property free and clear of existing debt.

                The Hamilton is located at 210-230 West 107th Street between Broadway and Amsterdam Avenue approximately two and a half blocks from Central Park and Riverside Park.  

The 95 percent leased property consists of three adjacent mid-rise buildings containing a mixture of studio, one-, two- and three-bedroom units averaging 779 square feet each.  Building amenities include on-site laundry facilities, elevators, secured entries, on-site super, on-site porter and available storage.

The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeff Julien and Kevin O’Hearn.

Jeffrey Julien

The Dermot Company is led by principals, William P. Dickey and Stephen N. Benjamin.  Formed in 1991 as a real estate management company focused on multi-family sector opportunities, Dermot today is a fully-integrated real estate enterprise with nearly $2.0 billion in assets under management and development.  Historically, Dermot has partnered with institutional equity investors to implement its New York City multi-family development strategy

Kevin O'Hearn

To date, Dermot has developed over $1.6 billion of apartment projects in New York City.

                Established in 1934, Henderson Global Investors (Henderson) is a leading independent global asset management firm.  The company provides its institutional, retail and high net-worth clients access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, property and private equity. 

William P. Dickey

With its North American headquarters in Chicago, IL, Henderson oversees £65,650 million assets under management and employs around 1,014 people worldwide (as at 31 December 2012).

                The Orbach Group is a real estate owner and management firm focused on the New York City, New Jersey and Pennsylvania markets. 

Stephen N. Benjamin

The group takes an active hands-on approach to property operations through concentrating on leasing and lease administration, tenant services, building management, capital improvements, financial administration, property repositioning and asset management.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com