The Qatari government recently invested nearly $10 million in a condominium unit in New York City, further expanding its vast real estate portfolio in the area.
The unit, located at 64 University Street in Greenwich Village, spans 2,600 square feet and is found in an 11-story boutique development. The Qatari government bought the property under the shell company Greenwich Seagull LLC for $9.8 million.
The deal was closed on Oct. 9, effectively expanding the Qatari government's already expansive portfolio in New York City's real estate industry, per the New York Post.
Inside the Condo Unit
There were very few details about the unit. The outlet noted that the unit is one of only five units with an outdoor space, which spans 120 square feet. The unit also allegedly boasts three bedrooms, three-and-a-half baths, and a fireplace.
The units were reportedly developed by Argo Real Estate and Bsafal.
Details About the Deal
The contract for the condominium unit was allegedly drawn up in January last year. The deal also bore the name of Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani, as reported by Crain's New York, citing city records.
It is unclear what purpose the property will serve. Typically, condo units purchased by foreign governments serve as official residences of their country's ambassador to the United Nations. For Qatar, this means it could serve as the home of representative Sheikha Alya Ahmed bin Saif Al Thani.
Qatar owns several other properties in NYC. This includes a 7,300-square-foot prewar townhouse in Turtle Bay, which it purchased for $34 million in 2013. The Qatari government is currently attempting to offload that property for $32 million.
Qatar also owns a property at 7-9E. 72nd Street on the Upper East Side. That residence combines two adjacent townhouses bought by Qatari emir Hamad bin Khalifa Al Thani, a member of Qatar's royal family.
Outside of residential properties, the Qatari government owns a 9% stake in Brookfield and a 10% stake in Empire State Realty Trust, according to The Real Deal.
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