From left: Archstone CEO Scot Sellers and 377 East 33rd Street (building credit: PropertyShark)While a bidding war has emerged for its portfolio, Archstone acquired a 209-unit Kips Bay apartment building for $131 million, the apartment investment firm announced today, and will rename it Archstone Kips Bay.
The building, at 377 East 33rd Street near First Avenue, had been owned by Madison International Realty and RFR Holding, which bought it for an undisclosed price in 2007, according to public records. The partnership took out a $100 million loan on the building from Anglo Irish Bank. – Adam Fusfeld Comments
