8/23/2007

Upper West Side apartment building sells for $75 million

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323 W. 96th St.

Leviev Boymelgreen sold the Hudson Park apartment building at 323 W. 96th St. on the Upper West Side of Manhattan to The Pinnacle Group for $75 million on Aug. 23.

GFI Realty Services brokered the deal.

Overlooking the Hudson River and Riverside Park, the Hudson Park apartment building spans 172,000 square feet and 172 units in its 15 stories.

Leviev Boymelgreen completed the project in 2003 at a reported cost of $34 million.

According to reports, Liviev Boymelgreen, the development partnership between Brooklyn-based developer Shaya Boymelgreen and Israeli billionaird Lev Liviev is coming to an end.

The sale of Hudson Park marks yet another dissolution of assets held in the partnership including properties in New York, Toronto, Miami and Las Vegas.

Liviev Boymelgreen has been beset by complaints of shoddy construction and unsafe and unfair working conditions in recent years. A community organization has circulated petitions and created a website, wwww.shayaiscoming.org, in order to alert others of his business practices.

The Pinnacle Group is a privately owned residential real estate management company in New York City.

GFI Realty Services is one of the fastest growing commercial real estate finance and sales brokerage operations in the country

Address: 323 W. 96th St., New York, N.Y.

Size: 15 stories, 172,000 square feet

Built: 2003

Architect: Office of Simon Fouladian

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Filed Under: Multi-Family

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