UPDATED, May 16, 1:03 p.m.: Volunteers of America, which provides housing to single women, sold its nine-story Upper West Side building to a senior housing nonprofit for $42 million, according to property records filed with the city Monday.
The buyer of the property at 340 West 85th Street is the West Side Federation for Senior and Supportive Housing, records show, which plans to house seniors from its Valley Lodge home on 108th Street in the short term.
The WSFSSH received $42 million from the Department of Housing Preservation and Development, for the acquisition, documents show.
Known as the Brandon House Residence for Women, the nine-story has SRO has offered short term furnished rooms for single women since 1953.
Last December, Ran Eliasaf’s Northwind Group, Harrison Street Real Estate Capital and the Engel Burman Group bought a 14-story Upper West Side luxury senior housing facility at 305 West End Avenue for nearly $150 million.
Paul Freitag, executive director of WSFSSH, said the organization is preserving 120 SRO units at the building. “SRO units are increasingly rare in the city as more are converted to market-rate condominiums,” he said.
Representatives for Volunteers of America could not be immediately reached for comment.
This story has been updated to include comments from Paul Freitag.