Barry Sternlicht’s Starwood Capital Group paid $68.2 million for the Shepherd House, a 137,589-square-foot, 144-unit rental building at 277 West 10th Street in the West Village, according to property records filed with the city Thursday.
The seller is listed in property records as Vill-Shepherd Equities Corp. Shepherd House was built in 1893 as an industrial building, and converted by Henry Elghanayan’s Rockrose Development into apartments in 1979. The 12-story property has apartments ranging from studios to three bedrooms, with an average rental price of $63 per square foot, according to StreetEasy.
Representatives for Starwood declined to comment, and Rockrose representatives weren’t immediately available for comment. In March, Starwood partnered with Crown Acquisitions to purchase the Old Navy store building in Herald Square for $250 million, as TRD reported. The site on which that property sits could be redeveloped into a 300,000-square-foot retail and hotel tower.