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The New York Observer

N.Y.U. Pays $9.4 M. for 25 Roosevelt Island Condos

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December 28, 2007 | 4:00 p.m
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New York University has paid $9.4 million for a bloc of 25 condos in Riverwalk Landing on Roosevelt Island--the fourth and most recently completed building in the luxury residential complex being developed through a joint venture of Hudson Properties and the Related Companies.

David Kramer, a principal at Hudson Properties, confirmed in a phone interview today that the latest sale is "one of four or five closings" N.Y.U. has made on the 58 condos at Riverwalk that it agreed to purchase. The university will then sell individual condos directly to faculty members, he said.

The nine-building complex is still under contruction, but Memorial Sloan-Kettering Cancer Center and New York-Presbyterian Hospital/Weill Cornell Medical Center have bought 184 condos, which have been rented to the hospitals' employees.

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