Columbia University just wrote a $122 million check for 99 Claremont Avenue in Morningside Heights, locking in a Gothic-style building that has been renovated into a campus residence. The refitted property is expected to house roughly 300 students and is slated to welcome its first cohort this fall. The purchase gives Columbia its first residence hall devoted exclusively to students in the School of General Studies.
As reported by The Real Deal, developer Sam Charney’s Charney Companies bought the former seminary dorm in 2024 for about $38 million and converted it into student housing. The outlet notes that Charney partnered with Criterion Real Estate Capital on the project and that the residence now features a fitness center, a communal chef’s kitchen and a roof deck.
What Columbia Is Buying
According to Columbia’s School of General Studies, 99 Claremont will offer more than 79,000 square feet of study and activity space and is designed to house more than 300 GS students. The school’s announcement casts the hall as a major step toward providing closer, community-oriented housing for nontraditional undergraduates.
How The Renovation Was Funded
The renovation was backed by a $55 million loan from Madison Realty Capital, a financing package reported by Commercial Observer. That bridge financing made the gut renovation viable and supported modern, energy-efficiency upgrades to the historic structure.
What It Means For Students
Sam Charney said in a video last year that “there were so many special, historic things about this property,” a phrase the developer used to explain why the site lent itself to dorm conversion, according to The Real Deal. With Columbia taking ownership, the university can now operate those beds directly, a tangible boost for students seeking affordable, walkable options near campus.
