Clipper Realty Sells UWS Apartment Building for $46M

Clipper Realty has offloaded an Upper West Side apartment building just off Central Park.

Clipper, through the entity 10 West 65 Owner, sold the six-story, 86-unit building at 10 West 65th Street to 10 W65, an entity linked to New York City landlord Janusz Sendowski, for $45.6 million, according to city records made public Monday.

David Bistricer, CEO of Clipper, signed the deal for the seller, while it was unclear who signed for the buyer.

It’s also unclear who brokered the deal. A spokesperson for Clipper did not immediately respond to a request for comment, while Sendowski could not be reached for comment.

The sales price comes at a 42 percent discount from the $79 million Clipper paid to Touro College for the property in November 2017, records show. That transaction was financed through a 10-year loan from New York Community Bank, according to Traded.

Clipper completed some renovations at the building between Central Park West and Columbus Avenue, where apartments rent for between $4,000 per month for a studio and $9,000 per month for a four-bedroom, according to StreetEasy.

And while Clipper is offloading this Upper West Side apartment building, it has picked up a few new ones along the Upper East Side in recent years, including its $106 million purchase of the 232-unit Aspen at 1955 First Avenue, as Commercial Observer previously reported.

Meanwhile, in Brooklyn, the firm secured a $123 million construction loan in 2023 for its mixed-use development in Crown Heights, CO reported. That project, which will encompass 953 Dean Street, 1048-1050 Pacific Street and 643 Classon Avenue, is set to feature 240 multifamily apartments and two retail units.

Isabelle Durso can be reached at [email protected].