Riverton Houses | TRD Research
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Riverton Houses

2156 Madison Avenue
New York, NY 10037
Residential, Leasing/Rental

The Riverton Houses is a seven-building affordable housing complex in Harlem, consisting of 1,229 residential units along the Harlem River. It was built by the Metropolitan Life Insurance Corporation in 1944. The buildings have long been the home of many African American New Yorkers, who, due to segregationist housing policies, were not eligible to live in other affordable complexes like Stuyvesant Town or Peter Cooper Village. In December of 2015, A&E Real Estate bought the buildings for $201 million and entered into an regulatory agreement with the city to keep 975 units affordable for the next 30 years. In return, A&E will get $100 million in tax breaks and other incentives. The buildings' previous owner was Larry Gluck of Stellar Management, who eventually went into foreclosure after buying the complex in 2005. Gluck later tried to buy the complex back, but the city recommended that CW Capital, who controlled the building on behalf of creditors, reject Gluck's bid. Famous former tenants of the Riverton Houses include former New York City mayor David Dinkins and jazz pianist Billy Taylor. -WP

  • Address 2156 Madison Avenue
  • neighborhood Harlem
  • borough Manhattan
  • owner A&E Real Estate Holdings
  • owner entity NEW YORK LAW SCHOOL
  • Year Built 1944
  • residential units 1,229
  • total units 1,229
  • block and lot 1-00176-0001
  • Event Sales
  • Address 57 Worth Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Square feet 12,500
  • Price $ 153,000,000
  • Price per foot $ 12,240.00
  • Publication Date 10/01/2005
  • Event Date 08/22/2005
  • Party 1 New York Law School
  • Party 2 Tishman Speyer
notes
Sold with adjacent parking lot for $153 million.
  • Event Sales
  • Address Riverton Houses
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 135,000,000

07/01/2016
The other three owners in the top five â€' Blackstone, Cammeby’s and A&E â€' operate almost exclusively through acquisitions rather than development. Part Silicon Valley investor, part New York real estate scion, A&E has quickly become the city’s fifth-largest landlord through multiple portfolio purchases in recent years. In 2015 alone, the company acquired $800 million in New York rental properties, including the $201 million Riverton Houses complex in Harlem in a deal brokered with the city...

12/17/2015
A&E is now buying the affordable housing complex known as Riverton Houses in Harlem, a $201 million deal with the complex’s current manager, CW Capital...