Centurion snatches up UWS apartment building for $227M

Buyer also secures about $204 million in financing from KREF

200 West 72nd Street
200 West 72nd Street

TIAA’s real estate investment arm sold an Upper West Side apartment building to Centurion Property Investors.

Centurion picked up 200 West 72nd Street, a rental building known as The Corner, for about $227 million, according to a filing with the New York City Department of Finance.

Centurion and TIAA did not immediately return requests for comment. Commercial Observer first reported news of the financing.

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Centurion secured about $204 million in financing for the deal from KKR Real Estate Finance. The deal includes a $53.9 million gap mortgage, an $18.1 million project mortgage and a $27.5 million building mortgage.

The teacher’s pension fund bought the property, which has 196 residential units, from the building’s developer, the Gotham Organization in 2011 for $209 million.

The transaction marks the second recent sale for TH Real Estate. Last month, TH Real Estate and Norway’s sovereign wealth fund sold 470 Park Avenue South for $245 million to PGIM Real Estate and SJP Properties.