Alabama.
NEW YORK CITY – Private equity investment firm Pebb Capital and TriArch Real Estate Group, a New York-based real estate investment and management firm, has sold The Alabama, a 175-bed, trophy student housing asset located at 15 E. 11th St. for an estimated $104 million.
Located on 11th street between Fifth Avenue and University Place in Greenwich Village, the historic pre-war building was acquired in October 2016 for $58 million. Alabama Flats LLC acquired it from the joint venture.
The property was completely gut-renovated. Over 50 bed-spaces were added to the building's inventory, which opened its doors to students of New York University, The New School and the Cardozo School of Law in 2017.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
