Square Mile Lends $286M on A&E’s 160 Riverside Boulevard Buy

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A joint venture led by A&E Real Estate has landed $285.8 million of acquisition financing to purchase a multifamily property on Manhattan’s Upper West Side.

Square Mile Capital Management originated the loan on 160 Riverside Boulevard, a 455-unit building with 12,000 square feet of ground-floor retail space in the Lincoln Square neighborhood, the lender announced Monday. A&E acquired the 33-story tower from Sam Zell’s Equity Residential for $415 million, Commercial Observer first reported

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“Located along the Hudson River, 160 Riverside Boulevard is a premier New York apartment building with a robust amenity package and excellent proximity to nearby employers, public transit and entertainment districts,” David Greenburg, principal of Square Mile Capital, said in a statement. “We are thrilled to continue our financing activity in New York City.”

Situated between 67th and 68th streets adjacent to West Side Highway, the multifamily was first developed in 2001 by Hudson Waterfront. The building’s amenities include a 24-hour fitness center and concierge, a clubhouse with a media room, a resident lounge, on-site laundry facility, valet dry cleaning and an underground parking garage.

Officials for A&E did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com