Nuveen Buys Pair of Upper West Side Multifamily Properties for $75M

Nuveen Real Estate has acquired a two-building multifamily portfolio on Manhattan’s Upper West Side, Commercial Observer has learned.

Nuveen bought the properties at 200 Manhattan Avenue and 133 West 104th Street, known as Manhattan Valley Apartments, from L+M Development Partners for $75 million, according to property records and a source with knowledge of the deal.

Together, the properties span 143,551 square feet and include 126 federal Section 8 voucher units. The buildings are near the north end of Central Park between Central Park West and Amsterdam Avenue, about six blocks from each other. 200 Manhattan Avenue was built in 1890 and stands six stories tall with 181 units, while 133 West 104th Street is a seven-story building with 28 units that was built in 1950. 

Ariel Property Advisors’ Victor Sozio, Shimon Shkury and Remi Mandell arranged the sale on behalf of the seller, the firm announced. Ariel declined to comment further. 

Spokespeople for Nuveen and L+M did not immediately respond to requests for comment. 

News of the sale comes after a recent flurry of activity on the Upper West Side.

Last month, Hawkins Way Capital bought a hotel turned student housing property at 117 West 70th Street from the American Musical and Dramatic Academy for $80 million. And in May, Benchmark Real Estate Group purchased a 90-unit, 15-story apartment building at 698 West End Avenue for $42 million, CO reported.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.