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A&E Realty Buys Morningside Heights 20-Story Residential from SL Green
New York multifamily specialist A&E Realty has acquired 1080 Amsterdam Avenue, a 20-story elevator apartment building located in the heart of the Morningside Heights neighborhood in Manhattan, A&E Realty said.
A&E acquired the leasehold interest in 1080 Amsterdam, which consists of 96 rental apartments, a street-level retail storefront and a professional unit, from SL Green for $42.5 million, or $443,000 per unit.
The off-market transaction is A&E’s third acquisition of an SL Green residential property in the past year. A&E also purchased 400 East 57th Street in October 2021 and 400 East 58th Street in April 2021, both from SL Green.
“We have assembled a diverse multifamily portfolio – from workforce housing acquired from legacy owners in the boroughs to prestigious core Manhattan residences acquired from major institutional investors,” said Douglas Eisenberg, Executive Chairman of A&E Real Estate.
Built in 1931, 1080 Amsterdam Avenue formerly served as staff housing for St. Luke’s-Roosevelt Hospital before being converted in 2014 by Stonehenge and SL Green. The 90,000-square foot building, which boasts stunning views of the Hudson River, is located on the corner of 113th Street and Amsterdam Avenue – steps from Columbia University, St. John the Divine and Morningside Park.
