Portfolio Item

West 87 Co-op, Upper West Side, New York

Property Details
Name: The Chamberlain
Project Metrics: 39 units on 17 floors 116,000 gross sq ft
Acquisition Date: February 2015
Completion Date: 2018
Location: 267 West 87th Street, New York, NY

westend87.com

In February 2015, Quadrum acquired of a leasehold interest in a 49,595 sf parking garage building on a 10,071 sf site under a new 99-year ground lease. The parking garage was subsequently vacated and demolished to make way for a 116,000 gross sf, 39-unit “for-sale” luxury residential property.

The site is well located on the Upper West Side of Manhattan on West 87th Street between Broadway and West End Avenue, within walking distance of many of the city’s most visited attractions and public transportation.

Quadrum, together with its development partner, has capitalized on a rare opportunity to develop ground-up, luxury residential units that are differentiated from the inferior competing conversion product more typical of the surrounding area in the highly sought-after Upper West Side.

Quadrum has since exited its majority stake in this investment.

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