Certes Partners has purchased 214-218 W. 95th street for $26.5 million according to WSJ. They are already the owners of 206 W.95 street which they purchased for $15 million one year ago. The combined cost of $41.5 million for a buildable square footage of 85,000, of about 18 stories, looks like a great purchase. $500 per buildable square foot means that they can build something in the affordable luxury market of around $2000-2500 per square foot. It would be great to see some smaller apartments to address demand but most likely we will see family sized apartments of 1200 square feet and up. The location is great since it’s close to Broadway and one block from the express subway stop at West 96 street.
They are currently discussing with their architecture firm CetraRuddy to see how they should design the building.