By Dan Orlando
Muss Development has purchased a Manhattan Valley walk-up building.
According to city records, the developer paid $13.25 million for the five-story, 20-unit building at 61-63 West 108th Street on the Upper West Side for $13.25 million. A spokesman for Muss confirmed the sale, but declined further comment.
The Upper West Side property was marketed by a team from Ariel Properties that included Shimon Shkury, Victor Sozio, Michael A. Tortorici and Randy Modell.
Bookended by luxury residential apartment buildings between West 110th and 100th streets, Manhattan Valley is prime for redevelopment, according to brokers in the area.
Prices there continue to be cheaper than the rest of the Upper West Side, although the neighborhood’s proximity to Columbia University’s new 17-acre Manhattanville campus is expected to impact pricing.
The $7 billion Columbia University expansion will be bordered by 125th and 124th streets and between 12th Avenue and Broadway and will include more than 6.8 million square feet of teaching, research, cultural and recreational facilities.
The area includes the Mink Building, the Sweets Building and the Taystee Building, as well as other retail, residential and cultural locations.