Columbia University Acquires Student Housing At 99 Claremont Avenue From Sam Charney & Justin Pelsinger For $122M

The property asset involved in this transaction is a student housing project located at 99 Claremont Avenue in the Morningside Heights market. The asset encompasses 300 units and features a total square footage of 100,000. The sale price for this transaction was $122,000,000, resulting in a price per square foot of $1,220 and a price per unit of $406,667. A new dormitory is set to open this fall.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $122,000,000
• Square Footage: 100,000
• Price per Square Foot: $1,220
• Units: 300
• Price per Unit: $406,667
• Buyer: Aaron Weaver - Columbia University
• Seller: Justin Pelsinger & Sam Charney - Charney Cos

This transaction was facilitated by Aaron Weaver representing Columbia University as the buyer and Justin Pelsinger along with Sam Charney representing Charney Cos as the sellers. The acquisition strengthens Columbia University's housing portfolio within the Morningside Heights area.