Japanese Firm Acquires Upper West Side Apartments for $25M

Alchemy Ventures announced the sale of 310 W. 80th St., a 36-unit residential elevator building on Manhattan’s Upper West Side, to Japan-based Phoenix Co. Ltd. for $24.8 million.  Alchemy originally acquired the property in February 2024 for $11.2 million, with the sale representing a significant increase from the company’s acquisition price after a gut renovation.

Ian Brooks, Robert Shapiro, Nicholas Kontos and David Garcia of CBRE handled the deal for Alchemy Ventures. The sale is part of Alchemy Ventures’ ongoing strategy of acquiring, operating and selectively monetizing residential and mixed-use properties throughout New York City

“310 West 80th Street was a great example of the type of residential asset we look for at Alchemy Ventures: well-located, fundamentally strong properties in established New York City neighborhoods,” said Sam Kooris, principal/co-founder “The transaction reflects our continued focus on identifying opportunities, creating value through hands-on ownership and management, and strategically realizing that value as we continue to grow and evolve our portfolio.”

Stay ahead of the multifamily market at Connect Apartments. Gain firsthand insights from industry leaders on capital markets, development, operations, financing, and investment trends while expanding your network with the people making deals happen. See you on September 22!