Columbia Heights Condo Investment
Club Deal 133 - Built in 1903 as The Standish Arms Hotel, this asset is located at 169 Columbia Heights which is situated on the Promenade in Brooklyn Heights, just across the East River from Manhattan. Offering panoramic views of the New York City skyline, Columbia Heights is the only high-rise apartment building on this historic neighborhood’s most exclusive street.
The asset was converted into an apartment building with modern renovations. Under the new ownership structure, the project is now being converted into high end, luxury condominiums totaling approximately 56,224 sellable square feet. The asset will consist of 32 condos ranging from one to five bedroom units including single floor, duplex, and triplex units. Amenities will include private and roof deck space, fitness center, children’s playroom and tenant storage. The architectural vision includes restoring elements of the asset to its original condition and reflecting the history of the property in the construction. Construction began in September 2015 with completion expected in 2017.