Real Estate
UWS Apartment Development Changes Hands For $227M: Report
The 196-unit development called "The Corner" on West 72nd Street and Broadway will have new ownership.
UPPER WEST SIDE, NY — An Upper West Side apartment development located near one of the neighborhood's busiest intersections is changing hands in a nine-figure deal, according to reports.
The development known as "The Corner" on West 72nd Street and Broadway has sold for $227 million, real estate publication The Real Deal first reported. The building was previously owned by TIAA and is being bought by Centurion Property Investors, according to the report.
If the reported $227 million is correct, TIAA stands to make a profit off its ownership of the building. The pension fund bought the property in 2011 for $209 million, The Real Deal reported.
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The Corner contains 196 apartment units, according to the report. The building is also home to a number of retail businesses on its ground floor, including an extremely popular Trader Joe's location.
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Photo by Google Maps street view
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