NEW YORK CITY-A 49-unit prewar apartment building near Columbia University has sold for $16.75 million, three years after trading for $10.4 million. The 42,186-square-foot Canterbury, six-story building at 204 W. 108th St., had undergone a $4-million capital improvement program that was completed last year.

The seller, IGPF Canterbury LLC, was able to move the property quickly “because of its excellent location, only a few blocks south of Columbia University, its physical qualities and the huge future upside inherent in the below-market stabilized leases,” says Eastern Consolidated’s Deborah Gutoff in a release. The property had gone on the market in July, and it sales price equates to $400 per square foot, compared to a reported $250 per square foot when then-owners Nelson Management Group Ltd. and Global One Investments traded it in 2005.

Senior directors Gutoff and Ronda Rogovin represented the seller along with Eastern Consolidated vice chairman Brian Ezratty, while Eastern’s director David Kalish procured the buyer, L.M. 204 W. 108 LLC–described in the release as a locally-based real estate family. Gutoff says in the release that 55% of the units–all two and three- bedroom–are free market, and almost all of the 26 free-market units have been completely renovated with new floors, walls, ceilings, kitchens and bathrooms.

The Canterbury’s new owners plan to self-manage and operate the property in its current configuration as a rental building, Kalish says in a release. “Location was certainly a driver in this deal,” as the property is situated between Broadway and Amsterdam Avenue “in an area flush with a number of new luxury condominiums.”

Attorneys in the transaction were Ross D. Gillman, Esq., of Goodwin Procter LLP, for the seller and Richard Adelman, Esq., of Cutler Minikes and Adelman, LLP for the buyer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.