President Bollinger acquires $11.7 million Upper West Side apartment

Upper West Side NY

08 February, 2022

5:40 PM

Description

Columbia Daily Spectator BY MAYA MITRASINOVIC AND IRIE SENTNER FEBRUARY 7, 2022, 11:08 PM University President Lee Bollinger has purchased an apartment at the Beresford, a historic building on the Upper West Side. The 10th floor, three-bedroom apartment sold for $11.7 million. This purchase further fuels the rumors that Bollinger, who has served as University president since 2002, might soon be stepping down from his position. Last fall, the University Trustees announced that Bollinger would be extending his tenure until the end of the 2022-23 school year, though a formal acknowledgement of the end of his tenure has yet to come. The apartment is two miles from Bollinger's current University-owned residence at 60 Morningside Drive, which was built in 1912. Bollinger moved into the President's House in 2004, having spent nearly the first two years of his tenure in interim housing while the President's House underwent a $23 million renovation. His residence has been the site of several protests and rallies throughout his tenure. This past fall, supporters of the Student Workers of Columbia-United Auto Workers walked to the President's House after interrupting his undergraduate political science class, Freedom of Speech and Press. The SWC-UAW, which recently won its first contract with the University after years of intermittent striking, cited a need for a New York City living wage as a major motivation for its strikes. SWC-UAW members have also criticized the University for operating as a "company town" that controls its workers' access to wages, healthcare, and housing. In winter 2021, the Columbia-Barnard Young Democratic Socialists of America gathered in front of Bollinger's mansion to protest for a tuition reduction. They were joined by local candidates for public office and student organizations, who pointed to Bollinger's $4.6 million salary as evidence of the University's inequitable allocation of resources. The University has historically had one of the highest—and often, the highest—tuitions in the country, with tuition rates in the United States growing far faster than real wages. Bollinger has been critiqued for his position as the highest paid and longest-serving Ivy League president. Columbia's Manhattanville expansion—spearheaded by Bollinger—has led to the displacement of West Harlem and Morningside Heights residents, and community advocates have long been critical of Columbia's impact on gentrification in the area. The Manhattanville expansion has placed up to 1,318 units at risk of increased rent pressure. Furthermore, when a mass of students moved into off-campus apartments after being denied housing for the 2020-21 school year due to COVID-19, residents expressed concern about rising rents in the area as a result. Bollinger's real estate transaction occurs at a time when New York City rents have risen after a brief dip during the pandemic. The University has long been cited as the largest private landowner in New York City and manages 150 apartment buildings, most of which are concentrated in Morningside Heights and West Harlem. "This transaction is a private matter," a University spokesperson said in a statement to Spectator. City News Editor Maya Mitrasinovic can be contacted at [email protected]. Follow her on Twitter @m_mitrasinovic. News Editor Irie Sentner can be contacted at [email protected]. Follow him on Twitter @iriesentner. Founded in 1877, the Columbia Daily Spectator is the independent undergraduate newspaper of Columbia University, serving thousands of readers in Morningside Heights, West Harlem, and beyond. Read more at columbiaspectator.com and donate here.