Rockpoint Group and 60 Guilders are looking to sell the leasehold on a 180-unit Turtle Bay rental building at 300 East 46th Street, sources told The Real Deal.
Sources said the leasehold for the 190,000-square-foot property, which has 30 years remaining, is expected to fetch around $40 million.
Rockpoint and 60 Guilders bought the leasehold from Schneider and Schneider in 2013 for $27 million. The building largely includes unrenovated apartments — 96 market-rate units and 70 rent-stabilized units. The other 14 apartments have been recently renovated. The ground floor holds a Duane Reade and a parking garage.
Hodges Ward Elliott’s Will Silverman, Paul Gillen and Daniel Parker are marketing it. They declined to comment.
Rockpoint, a Boston-based private real estate fund manager, recently bought two adjacent rental towers on Wall Street for $430 million. The firm’s partner, 60 Guilders, a retail-focused investment firm, acquired a Soho retail co-op for nearly $100 million.