Adelaide Polsinelli, Vice Chairman of Compass, a publicly traded, technology-driven, real estate platform, has sold, the retail condo at 380 Columbus Avenue, also known as 101 West 78 th Street, on the Northwest corner of 78th Street for a price of $8,950,000.
The property is located in the Upper West Side Historic District, one of Manhattan’s most vibrant neighborhoods, steps away from The Museum of Natural History 72nd Street, with exceptional proximity to Central Park and Riverside Park,and a short walk from the transportation hub at West 77th Street..
“After a dedicated and thoughtful process of identifying who the perfect buyer should be, nonprofits with ties to the Museum of Natural History, were the best candidates. Having toured several art related and cultural end users, Aperture stood out as the perfect candidate”, Polsinelli noted. Aperture was represented by David Lebenstein, Executive Managing Director and Debra Wollens, Senior Director, both of Cushman Wakefield.
Aperture, a not-for-profit foundation, connects the photo community and its audiences with the most inspiring work, the sharpest ideas, and with each other—in print, in person, and online.
Created in 1952 by photographers and writers as “common ground for the advancement of photography,” Aperture today is a multi-platform publisher and center for the photo community. They are based in New York, where they produce, publish, and present a program of photography projects, locally and internationally.
380 Columbus Avenue is a neo-renaissance building, constructed in 1886 by architects Simon Schwartz and Arthur Gross and was designed by Emile Gruwe. It was recently converted to luxury residential condominiums. The retail condominium features oversized arched windows and a restored red brick façade with decorative limestone and terra cotta.
“Fortunately, we are finally seeing signs of a strong retail resurgence as more businesses and organizations, are realizing that owning their real estate instead of leasing it, is far more advantageous,” commented Polsinelli. “This is especially true today as real estate is one of the greatest hedges against inflation,” Polsinell concluded.