A&E Real Estate has acquired the leasehold interest in 1080 Amsterdam Ave., a 20-story Manhattan apartment building for $42.5 million, or or $443,000 per unit.
Located in the Morningside Heights neighborhood, the 96-unit, mixed-use building traded in an off-market transaction with SL Green. It also features a street-level retail storefront and a professional unit.
This marks A&E's third acquisition of an SL Green residential property in the past year, having purchased 400 East 57th Street in October 2021 and 400 East 58th Street in April 2021, from the REIT.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
