Harlem Congregations pays $28M to Camber, Belveron for property in the Upper West Side

Harlem Congregations for Community Improvement through the entity Morningside Housing Development Fund Corporation paid Camber Property Group and Belveron Partners’s Belveron Fund Iv Reit Property Owner, LLC $28.0 million for 107 West 109th Street in the Upper West Side. The deal closed on November 3, 2020, and was recorded on November 19, 2020. The transaction consists of 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 49 residential units. The property is 31,026 square feet. The parcel(s) have total development potential of 43,237 square feet.
The sale price per unit is $571,429..

This was an entity-level transfer and so there are no signatures disclosed in Acris. There were no city transfer taxes paid, but the state collected $182,000 in transfer taxes. In a related transaction, Harlem Congregation bought out Belveron and Camber in Washington Heights in a $12 million deal. https://www.pincusco.com/harlem-congregations-buys-out-partners-camber-belveron-for-12m-in-washington-heights/ The last time the property sold was October 22, 2018 for $21,275,625.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link