The Bradford Gets New Name Post $133M Sale
Stonehenge NYC paid big bucks for a large rental building in the heart of the Upper West Side.
By Veronica Grecu, Associate Editor
New York—A 15-story apartment building in Lincoln Square between West End Avenue and Amsterdam Avenue is now under new ownership.
Stonehenge NYC recently closed on the acquisition of The Bradford, a rental building located at 210 W. 70th St., within walking distance from Central Park, the American Museum of Natural History and six major subway lines. The real estate company worked with Deutsche Bank‘s real estate arm to close on the acquisition of the property from an entity called 210 W. 70th Owner LLC. According to a news release, the property was purchased for $133 million, or roughly $775 per square foot.
Stonehenge NYC plans to invest more capital into apartment renovations, lobby improvements, elevator upgrades and new amenities. As part of this capital improvements program, the building’s name was already changed into Stonehenge 70.
Designed by George Frederick Pelham, the 171,000-square-foot property was built in 1924 as an apartment hotel and converted into residential use in the 1950s. The building includes 171 rental apartments ranging from studio to three-bedroom residences, and one third of the units are rent stabilized, according to The Real Deal. The property also features 13,072 square feet of retail and restaurant space.
According to the new owner, rents at Stonehenge 70 start at $2,850 for a studio and $3,650 for a one-bedroom unit.
Image via Google Street View