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Liberty Warehouse to Undergo Luxury Condo Redevelopment

NEW YORK CITY-$44.25 million in acquisition and construction financing has been secured by a locally based developer for an Upper West Side warehouse that is to be redeveloped as a loft-style residential property. The building is best known to West Siders for the scaled down Statue of Liberty on its roof.

By Glen Thompson | Updated on December 17, 2001

NEW YORK CITY-A locally based developer has acquired an Upper West Side former warehouse building and will redevelop it as luxury condominiums. The Athena Group LLC has secured $44.25 million in acquisition and construction financing for the project, to be called Liberty Lofts.

Athena will add four floors and an atrium to the existing eight-story building at 43 W. 64th St., known both for the 55-soot-tall replica of the Statue of Liberty perched on its roof and O’Neals’ restaurant on the ground floor. The building is located on a through-block site between 64th and 65th streets, Broadway and Central Park West. The redeveloped property will contain roughly 88,000 sf of residential space and approximately 12,000 sf of restaurant/retail space.

Steven A. Kohn, president of Manhattan-based real estate investment banking firm Sonnenblick-Goldman arranged financing for the project, which was provided by an undisclosed domestic commercial bank. The seller was Camron Hakim, an independent real estate investor whose portfolio of New York brownstones and small multifamily buildings is said to exceed 100. No brokers were involved and details of the transaction have not been disclosed.

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