377 East 33rd Street
Update
09/12/23
Medical School Buys Kips Bay Apartment Building for $210M
A 23-story, residential building, located at 377 East 33rd Street in Manhattan's Kips Bay neighborhood, has just traded hands for $210 million. The structure was purchased by NYU's Grossman School of Medicine from the previous owner, Verbena Road Holdings, in a deal brokered by Eastdil Secured.
Built in 1998, and previously known as "The Lanthian", it contains 209 rental apartments, offered in studio and one to four-bedroom configurations. The building sits just across the street from the sprawling, NYU Langone Health hospital campus, and NYU Langone has stated that it intends to use these units to house faculty, staff, and trainees. This will allow the institution to slim down on the amount of third-party housing accommodations it has to lease in and around the neighborhood.
Amenities include a fitness center, a roof deck with seating and BBQ stations, a resident lounge, a conference room, and a children's playroom.
In addition to residential units, the structure contains over 20,000 square feet of commercial space for NYU’s Grossman School of Medicine, as well as an enclosed parking garage.
The structure stands 205 feet tall and totals roughly 213,000 square feet. Leasing for The Lanthian has been suspended, and presumably will not resume based on NYU's intended use for the development. The property's leasing website has also been taken down in the wake of the acquisition.
