Inwood 'Educational' Building Was NYC's Top Sale Last Week

INWOOD, NY — A property in Inwood was the most expensive sale to take place in New York City last week, according to the Real Deal, a website that tracks New York City real estate news.

The property in question is an 8,600-square foot space and building at 400 West 219th Street.

Peter Fine's Bolivar Development bought the space for $16 million, according to the Real Deal. The developer plans to transform it into a nearly 120,000-square-foot educational building on the site.

Bolivar Development also secured $10 million in financing from M&T Bank to help make the purchase, according to the Real Deal.

The developer filed permits with the city at the beginning of February to build a new eight-story educational building at the address.

The plan calls for a 104-foot-tall building that would have 118,231 square feet of facility space.

Outside of the name of the owner, architect, and educational classification on the building, there are very few clues on what exactly the property will be.

However, the Department of Education has confirmed to community members that the new building is not their doing.

There is a one-story building at the location already, but there are no demolition plans filed.

Also, there isn't an estimated completion date within the filing listed for the new building.

Read More: Permits Filed For 8-Story Educational Building In Inwood