The Real Deal New York

UWS hostel trades for $10M

By Hiten Samtani | December 31, 2012 12:30PM

Jazz on Amsterdam Avenue, a hostel on the Upper West Side, has sold for $10.3 million to 201 West 87th Street LLC, city records show. The 5-story, 19,200-square-foot building, located at 560 Amsterdam Avenue at West 87th Street, was built in 1920 and last altered in 1983.

The seller, Jazz Hostels Inc., purchased the building for $7.9 million in January 2011 from an entity associated with Heritage Realty, which in turn had paid $7.4 million for the building in August 2007.

Steven Haber of Haber Realty Group represented Jazz Hostels Inc. in the deal. Wulf Lueckerath of Corinthian Group represented the buyer, who is an international investor.

Representatives for the buyer and seller could not be immediately reached for comment.