A Columbus Square apartment building. Photo by rbs10025 via flickr.
January 13, 2012 Weather: Windy, High of 41 Degrees.
UDR, a Colorado-based real estate company, and insurance company MetLIfe just bought Columbus Square, the massive glassy five-tower rental apartment complex that also houses Whole Foods and other big retailers between 97th Street and 100th Street. They paid $630 million for the development, which has 710 apartments with average rents of $3,924. The owners, Chetrit Group and Stellar Management, bought the land from Leona Helmsley in 2000 for $122 million. Will rents go up? UDR hasn’t said, but it’s hard to imagine they won’t. (Thanks to Daren for the tip on this.) (BusinessWeek)
An Upper West Side doorman dishes on the highs and lows of his job. He loves the kids, but he won’t move your car. (Brick Underground)
Development companies are bidding for the rights to build two of the five towers in Riverside Center, the big upcoming development off of West End Avenue between 59th and 61st Streets. (NY Post)
Local public schools honored Martin Luther King, Jr. (DNAinfo)