Episode Details

Developer Sam Charney just cashed in big time, flipping a Morningside Heights student dorm he bought for $38 million just a year ago for a whopping $122 million — a profit that’s turning heads in Manhattan’s real estate scene. The building, once McGiffert Hall and part of Union Theological Seminary, is now being reimagined as housing for 300 Columbia students in the School of General Studies, set to open this fall. Charney, already a Brooklyn powerhouse, teamed up with Criterion Real Estate Capital and secured a $55 million loan from Madison Realty Capital to pull off the renovation. Meanwhile, Columbia’s own real estate moves are accelerating — they just sold a Bronx student housing property for $65 million and snapped up a development site for $84 million in 2022. This isn’t just a student housing upgrade — it’s a major real estate play reshaping NYC’s campus landscape.

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