SJP Properties sells condo for $11.9M in Lincoln Square

A buyer paid $11.9 million to SJP Properties through the entity Amsterdam Avenue Redevelopment Associates LLC for property at 200 Amsterdam Avenue in Lincoln Square, Manhattan.
The deal closed on January 21, 2022 and was recorded on March 3, 2022.
PincusCo condo data reports that 35 condominium units have been recorded as sold in the 112-unit project. This does not include sales that are in contract or sales that have closed but have not yet been recorded.

On the tax block, the majority, or 86 percent of the 1.1 million square feet of built space are residential elevator buildings, with specialty buildings next occupying 14 percent of the space.
Within a 400-foot radius of 200 Amsterdam Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $65.6 million. The most recent of the two was Nevada Owners which borrowed $27.6 million from New York Community Bank secured by one condo unit in the 206,754-square-foot, 270-unit mixed-use building (RM) on 2021 Broadway on January 4, 2022.

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