Jonathan Rose Cos. snags UWS affordable-housing tower for $94M
Starrett Corp. developed 217-unit building in the 1970s
Jonathan Rose Companies bought a large affordable-housing apartment building on the Upper West Side for $94 million.
The Midtown-based company paid $93.83 million to buy the 217-unit Tower West building at 65 West 96th Street from the Starrett Corporation, property records show.
The purchase price works out to a little more than $430,000 per unit.
Rose director of acquisitions Nathan Taft said the company plans to make a “substantial investment” to the building’s lobby and common areas and make energy efficient improvements.
The 29-story building operates under the Department of Housing and Urban Development’s partial Section 8 and New York state’s Mitchell-Lama programs.
Starrett retains the retail portion of the building, property records show.
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