Qatar splurges on plush $9.8M Greenwich Village condo — in latest NYC real estate power move

The deep-pocketed Qatari authorities has expanded its already immense NYC existent property portfolio pinch nan acquisition of a $9.8 cardinal condo successful nan bosom of Greenwich Village.

Located astatine 64 University Place, nan luxurious 2,600-square-foot residence is simply a mini but important summation for nan Middle Eastern nation, known for its important investments astir Manhattan.

The residence is successful an 11-story boutique development, bought done a ammunition company, Greenwich Seagull LLC, which closed nan woody connected October 9.

According to metropolis records, nan statement for nan portion was first signed successful January 2023 and is linked to nary different than Qatar’s premier minister, Mohammed bin Abdulrahman bin Jassim Al Thani, Crains reported.

The swanky condo, 1 of conscionable 5 units successful nan building to boast outdoor space, features 3 bedrooms, three-and-a-half baths, a fireplace, and a 120-square-foot terrace.

The task was developed by Argo Real Estate and Bsafal. The units were softly marketed, pinch fewer specifications disposable online.

Qatar’s latest bargain fuels speculation astir its early use. Foreign governments often usage high-end properties arsenic lodging for diplomats.

But whether this condo will service arsenic a caller residence for Qatar’s UN representative, Sheikha Alya Ahmed bin Saif Al Thani, is still up successful nan air.

Edan Pinkas, a lawyer representing nan purchaser and a spokesperson for Qatar’s UN office, Alaeldin Dafalla, refused to comment.

This acquisition comes arsenic Qatar looks to offload its existent UN residence astatine 21 Beekman Place, a Turtle Bay townhouse it acquired for $34 cardinal successful 2013. The state has listed nan spot for $32 million, but it remains unsold.

Qatar’s foothold successful New York existent property is thing short of impressive.

The royal family owns a sprawling residence astatine 7-9 E. 72nd St. connected nan Upper East Side, while nan sovereign wealthiness fund, Qatar Investment Authority (QIA), has invested billions successful projects for illustration nan $3.8 cardinal Manhattan West improvement pinch Brookfield. In 2022, QIA and Brookfield sold a 49% liking successful 1 Manhattan West to Blackstone, valuing nan skyscraper astatine $2.9 billion.

But that’s not all. The state besides holds a astir 10% liking successful Empire State Realty Trust, which controls nan iconic Empire State Building, and made a splashy $1.8 cardinal finance successful Brookfield successful 2014.

As for nan Greenwich Village building itself, it’s astir sold out. The 28-unit condo project, which launched income successful 2022, has closed deals connected 24 units truthful far, pinch a target of $135 cardinal successful full sales.

Developers Argo Real Estate and Bsafal acquired nan tract successful 2019 for $30 cardinal and took retired $47 cardinal successful loans to money nan project.

Mark Moskowitz, CEO of Argo, was unavailable for comment.