Newcastle Realty Services Buys 380 Columbus Avenue for $50M

Thursday, 17 Jan 2013 01:21 PM

The building at 380 Columbus Ave, which was built in 1900, has been traded for $50 million. The new owner, Newcastle Realty Services, which owns properties throughout the five boroughs, purchased the 70,000-square-foot Upper West Side residential property on December 28. The seller was Joben Realty Associates.

The rental building has 43 units on 7 floors and has no noteworthy amenities. It has 58,205 square feet of residential space and 11,795 square feet of retail space. It is a pure rental building with no condos and has a total land area of 10,217 square feet. The location is excellent being right next to The American Museum of Natural History and just one block away from Central Park. I guess location is everything.