realestate

Qatar's Sovereign Wealth Fund Acquires Condos in NYC's Greenwich Village

Qatari government buys $9.8M condo in Greenwich Village project.

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luxury condo project in Greenwich Village is nearing completion, with the Qatari Government purchasing a $9.8 million apartment through a shell company. The 2,600-square-foot unit boasts a rare 120-square-foot terrace and was one of five units in the building to feature outdoor space. The sale comes after the project made headlines in 2022 when Douglas Elliman sold 24 of its 28 residences in just 10 days.

    The condo at 64 University Place was bought through Greenwich Seagull LLC, but the contract lists Qatar's prime minister, Mohammed bin Abdulrahman bin Jassim Al Thani. A representative for Qatar's United Nations office declined to comment on the intended use of the unit, which is not an official residence. The Qatari Government already owns several high-profile properties in New York City, including a large residence at 7-9 East 72nd Street and condos at 1 Wall Street and 432 Park Avenue.

    The building was designed by KPF and features interiors created by Danish firm Space Copenhagen. Construction on the project began in 2021 after pandemic-era delays, with financial help from an $82 million construction loan from Fortress Investment Group. The purchase adds to Qatar's significant real estate holdings, which also include a stake in Manhattan West and Empire State Realty Trust.

Qatar's sovereign wealth fund acquires luxury condos in New York City's Greenwich Village.