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Stonehenge Village

135 West 96th Street
New York, NY 10025
Retail, Residential, Leasing/Rental, Multifamily

The 14-floor property at 135 West 96th Streetwhich is actually three buildings linked by a glass-enclosed walkway and courtyardwas built in 1968 and houses mostly mixed-income residents. And therein lies the buildings problem.

The property faced controversy in 2014 when owners Stonehenge Partners, who have since dubbed it Stonehenge Village, faced lawsuits from both mixed-income tenants and New York City Public Advocate Letitia James over allegations of discrimination. The lawsuits alleged that Stonehenge had limited access to the buildings gym to only market-rate tenants, not those who had rent-regulated units. And because two-thirds of the rent-regulated units in the property were owned by people 65 years old or older, the lawsuits stated, the policy was de facto age discrimination.

The citys Commission on Human Rights ultimately ruled in favor of the tenants, but the litigation is ongoing. The fallout from the controversy also led to proposed legislation to prohibit developers or landlords from restricting gyms and other amenities to below-market tenants in mixed-income buildings. -NR

  • Address 135 West 96th Street
  • neighborhood Upper West Side
  • borough Manhattan
  • owner Stonehenge Partners
  • owner entity SP 96-97 STREET LLC
  • floors 14
  • Year Built 1968
  • residential units 418
  • total units 418
  • square feet 503,511
  • block and lot 1-01851-0008
  • BIN 1085589
  • Event Sales
  • Address 160 West 97th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 503,511
  • Price $ 287,000,000
notes
The buyer acquired the Upper West Side protfolio for $287 million.
  • Event Financing
  • Address 160 West 97th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 503,511
  • Price $ 145,000,000
  • Publication Date 04/02/2018
  • Event Date 04/02/2018
  • Party 1 A&E Real Estate Holdings
  • Party 2 Signature Bank, Mesa West Capital
notes
The owner secured a $145 million mortgage for the Upper West Side rental complex.
  • Event Sales
  • Address 753 Amsterdam Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 520,000
  • Price $ 115,000,000
  • Price per foot $ 221.15
notes
Dubbed Stonehenge Village. Includes 120-160 West 97th Street, 135 West 96th Street.

06/01/2018
From left: Blackstone’s Jon Gray, the Spiral at Hudson Yards, Landesbank’s Rainer Neske and 5 Manhattan West New York City’s major real estate lenders have From left: Blackstone’s Jon Gray, the Spiral at Hudson Yards, Landesbank’s Rainer Neske and 5 Manhattan West New York City’s major real estate lenders have...