New York City, November 8, 2025
Apex Investments has purchased the former Calhoun School building on the Upper West Side of Manhattan for $26.4 million. The property will be converted into a 146-bed women’s homeless shelter operated by Volunteers of America, showcasing a shift in its role from educational use to social services. The community has shown mixed reactions to this conversion, with local leaders seeking transparency in the process. This sale follows the building’s acquisition by Bayrock Capital just two years prior for $14 million, indicating significant changes in the neighborhood’s property landscape.
New York City
Former Upper West Side School Building Sold for $26.4 Million
Apex Investments has acquired the former Calhoun School building at 160 West 74th Street in Manhattan’s Upper West Side for $26.4 million. The five-story property, previously purchased by Bayrock Capital in 2023 for $14 million, is slated to be converted into a 146-bed women’s homeless shelter operated by Volunteers of America under a contract with the Department of Social Services. This sale marks the second transaction of the property in just two years, highlighting its evolving role in addressing the city’s housing and social service needs.
Property Details and Transaction History
The building encompasses 16,937 square feet of built space and includes an additional 3,473 square feet of air rights, totaling a buildable area of 20,432 square feet. Apex Investments, through the entity 74th St. Propco LLC, finalized the purchase from Bayrock Capital’s UWS Partners LLC on October 28, 2025, with the deed recorded on November 6, 2025. The sale price per built square foot was $1,557, and per buildable square foot, it was $1,291. Bayrock Capital had initially acquired the property in June 2023 for $14 million, intending to develop it into residential units. However, plans shifted, and the building is now designated to serve as a women’s shelter.
Community Response and Political Involvement
The conversion of the former school building into a homeless shelter has elicited mixed reactions from the local community. Some residents have expressed concerns about the impact on the neighborhood, while others emphasize the importance of addressing homelessness. In December 2023, Council Member Gale Brewer inquired about the shelter’s lease terms and the site selection process, seeking transparency and community engagement in the decision-making process.
Background on the Property
The Calhoun School, a co-educational private institution, relocated its Lower School from the building to a new location in July 2023. The property, situated between Columbus and Amsterdam avenues, has a history of ownership changes and proposed developments. In 2023, Bayrock Capital purchased the building with plans to convert it into luxury residences. However, the Department of Social Services announced in December 2023 that the property would instead become a women’s shelter, operated by Volunteers of America.
Implications for Housing and Social Services
The sale and planned conversion of the former Calhoun School building underscore the ongoing challenges and debates surrounding housing and social services in New York City. The decision to repurpose educational facilities for social services reflects the city’s efforts to address homelessness but also raises questions about community impact and the balance between development and social welfare.
Frequently Asked Questions (FAQ)
What is the former Calhoun School building at 160 West 74th Street being converted into?
The building is being converted into a 146-bed women’s homeless shelter operated by Volunteers of America under a contract with the Department of Social Services.
Who purchased the property and for how much?
Apex Investments, through the entity 74th St. Propco LLC, purchased the property from Bayrock Capital’s UWS Partners LLC for $26.4 million on October 28, 2025.
What were the initial plans for the building before it was designated as a shelter?
Bayrock Capital initially purchased the building in June 2023 for $14 million with plans to convert it into residential units. However, in December 2023, the Department of Social Services announced that the property would instead become a women’s shelter.
How has the local community responded to the conversion of the building into a shelter?
The conversion has elicited mixed reactions from the local community. Some residents have expressed concerns about the impact on the neighborhood, while others emphasize the importance of addressing homelessness. Council Member Gale Brewer has sought transparency and community engagement in the decision-making process.
What is the history of the Calhoun School building?
The Calhoun School, a co-educational private institution, relocated its Lower School from the building to a new location in July 2023. The property has undergone several ownership changes and proposed developments, including plans for luxury residences before being designated as a women’s shelter.
Key Features of the Property and Transaction
| Feature | Details |
|---|---|
| Property Address | 160 West 74th Street, Upper West Side, Manhattan, New York City |
| Previous Owner | Bayrock Capital |
| New Owner | Apex Investments (through 74th St. Propco LLC) |
| Purchase Price | $26.4 million |
| Property Size | 16,937 square feet built space; 3,473 square feet additional air rights (total buildable: 20,432 square feet) |
| Intended Use | 146-bed women’s homeless shelter operated by Volunteers of America under a contract with the Department of Social Services |
| Initial Purchase by Bayrock Capital | June 2023 for $14 million, with plans to convert into residential units |
| Community Response | Mixed reactions; Council Member Gale Brewer has sought transparency and community engagement in the decision-making process |
Now Happening on X
- @iLoveTheUWS (November 8, 2025): Reports on the latest sale of the former Calhoun School building in NYC’s Upper West Side, linking to a detailed article about the transaction. View on X
- @Le_Frontiersman (November 8, 2025): Sarcastically suggests converting a building into a homeless shelter to get the state to buy it for $50 million, commenting on NYC’s real estate and housing policies. View on X
- @dmtrubman (November 6, 2025): Shares a City Limits News story about a building originally planned for luxury apartments now being converted to house 183 homeless families in New York City. View on X
- @Dexter__Wright (November 3, 2025): Proposes converting a building into a homeless shelter with counselors, accommodating up to 450 people or families in separate units, emphasizing dignity and support services. View on X
- @BusinessCourier (November 2, 2025): Announces UD’s plan for redeveloping the historic, long-vacant YMCA building on Calhoun Street, highlighting potential business and real estate updates. View on X
- @CDispatch (November 2, 2025): Describes a $500,000+ redevelopment project for a building into mixed-use property with residential units and commercial space, reflecting local real estate trends. View on X
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