{"id":212025,"date":"2026-04-28T00:42:21","date_gmt":"2026-04-28T00:42:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/212025\/"},"modified":"2026-04-28T00:42:21","modified_gmt":"2026-04-28T00:42:21","slug":"fetner-pgim-buy-student-housing-from-columbia-for-65m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/212025\/","title":{"rendered":"Fetner, PGIM Buy Student Housing From Columbia for $65M \u2013 Commercial Observer"},"content":{"rendered":"

Fetner Properties<\/a> and PGIM<\/a> have closed on a $65 million sale-leaseback deal for 3260 Henry Hudson Parkway in the Bronx\u2019s Riverdale neighborhood, Commercial Observer has learned.<\/p>\n

Columbia University sold the 126-unit residential property known as Arbor to PGIM and Hal Fetner\u2019s firm for a total capitalization of $73 million after deeming it was no longer a strategic asset for the school, according to sources familiar with the deal.<\/p>\n

SEE ALSO: Blackstone Pays $200M for Another Industrial Portfolio in South Florida<\/a><\/p>\n

The buyers secured a $47.6 million acquisition and bridge loan toward the purchase, upgrades and stabilization of the nine-story asset, sources said. When Columbia\u2019s short-term lease turns over, the building will be converted from student housing to residential use, according to one source.<\/p>\n

Newmark<\/a>\u2019s Adam Spies, Eric Roth, Brett Siegel and Tyler Signora negotiated the sale, and a Newmark team of Jordan Roeschlaub and Max Ralby handled the financing.<\/p>\n

It\u2019s unclear who the lenders are.<\/p>\n

Fetner, PGIM and Columbia did not respond to a request for comment, while Newmark declined to comment.<\/p>\n

Columbia bought the then-new property in 2008 for $67.6 million from L+M Development Partners, which originally built it as condominiums. At the time, four-bedroom units were listed for around $1.36 million, according to property records and the Riverdale Press<\/a>.<\/p>\n

According to Columbia\u2019s website, Arbor is used by eligible students, researchers and faculty who live in private or shared apartments featuring in-unit washers and dryers. Amenities include a gym, a playroom, bike storage, on-site parking, a roof deck and shuttle service to campus.<\/p>\n

Mark Hallum can be reached at mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Fetner Properties and PGIM have closed on a $65 million sale-leaseback deal for 3260 Henry Hudson Parkway in…\n","protected":false},"author":2,"featured_media":212026,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[83791,10910,83792,48282,19817,83793,50422,2664,22114,75,84,83,68670,9,24,63,83795,83794],"class_list":["post-212025","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-3260-henry-hudson-parkway","tag-adam-spies","tag-arbor","tag-brett-siegel","tag-columbia-university","tag-eric-roth","tag-hal-fetner","tag-investments-sales","tag-jordan-roeschlaub","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-max-ralby","tag-new-york","tag-new-york-city","tag-nyc","tag-sale-leaseback","tag-tyler-signora-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/212025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=212025"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/212025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/212026"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=212025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=212025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=212025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}