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REA
January 29, 2020  

Lower Manhattan High-Rise Shown

Metro Loft Management is offering a Lower Manhattan apartment tower that could fetch $250 million.The 416-unit building, at 116 John Street, is 97% occupied. At the estimated value of $601,000/unit, a buyer’s initial annual yield would be roughly 4.25%.Metro Loft, headed by local investor Nathan Berman, gave the listing to Eastdil Secured.The pitch is emphasizing that all of the building’s units charge market rents. Therefore, it isn’t...


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