3333 Broadway

Brookfield Properties is attempting to sell its 1,200-unit rental complex at 3333 Broadway in Morningside Heights for $350 million, a 13% discount from its $400 million asking price 20 months ago. The sale was previously unsuccessful, likely due to increased interest rates and buyers’ costs. The complex, part of the former Putnam Portfolio bought in 2014 for over $1 billion, had a $60 million renovation. Currently, about 97% of the units are free-market, with 47% under Section 8 housing vouchers. Eastdil Secured is marketing the property.