Japanese Investor Acquires New York Upper West Side Apartment Building for $24.75 Million
Manhattan, New York City, United States | September 29, 2026: A Japanese investor has acquired a 36-unit apartment building on Manhattan’s Upper West Side for $24.75 million, adding another international buyer to New York’s multifamily property market. Phoenix Co. purchased the six-story property at 310 West 80th Street from Alchemy Ventures, in a transaction valued at approximately $687,500 per apartment.
The sale involves a renovated residential building in an established Manhattan neighbourhood, highlighting investor interest in apartment properties with existing residential infrastructure.
36-Unit Apartment Building Sells for $24.75 Million
Japan-based Phoenix Co. acquired the property at 310 West 80th Street for $24.75 million. The transaction works out to approximately $687,500 per unit.
The seller, Alchemy Ventures, sold the building after undertaking a comprehensive renovation. The transaction adds to the investment activity in Manhattan’s multifamily sector, where existing apartment buildings continue to attract buyers.
Renovated Building Dates Back to 1910
The six-story masonry building was originally constructed in 1910 and underwent a gut renovation before the sale.
Its location on the Upper West Side places it in an established residential neighbourhood. The building’s renovation and existing 36-unit configuration were key characteristics of the asset involved in the transaction.
Foreign Investment Adds to Manhattan Multifamily Activity
Phoenix Co.’s acquisition demonstrates continued participation by international investors in New York’s residential property market. The purchase also reflects the role of private investment companies in acquiring existing rental housing assets.
However, the transaction alone does not establish a broader trend in foreign investment or indicate how the market will perform.
What the Sale Means for the Upper West Side
The acquisition transfers ownership of an established apartment building in a mature Manhattan neighbourhood. For investors, the property offers an existing residential asset rather than a development site requiring new construction.
The $687,500-per-unit figure provides a reference point for this specific transaction. It should not be treated as a general valuation benchmark for other Upper West Side properties, as building condition, rental income, operating costs and location can affect prices.
What Happens Next
The sale has been completed, with Phoenix Co. taking ownership from Alchemy Ventures. The buyer’s future plans for the property, including any changes to operations or rental strategy, have not been disclosed.
The transaction adds another international investment to Manhattan’s apartment market, while the building’s future performance will depend on its management and local rental conditions.