The Real Deal New York

Centurion to pay $265M for Rockrose’s 22 River Terrace

October 01, 2013 12:45PM

22river_terrace

22 River Terrace

Centurion Real Estate Partners is in contract to buy the 324-unit rental tower 22 River Terrace in Battery Park City for $265 million, sources told the New York Post.

Owner Rockrose Development put the 26-story tower on the block last summer through Cushman & Wakefield, as previously reported. The deal exceeded expectations, as it was projected to bring in the range of $100 million for Rockrose. The Los Angeles-based buyer, which owns and manages a large commercial and residential portfolio, helped to resurrect Riverhouse at One Rockefeller Park after an original partner had trouble with funding.

The property, built by Rockrose in 2001, could be converted into condominums. [NYP, 2nd item]Mark Maurer

MENU