Archstone-Smith closes on two Manhattan rentals

Archstone-Smith Trust announced Wednesday that it had closed on deals to buy two rental buildings in Manhattan for a total of $282.6 million. The 266-unit Aston at 800 Sixth Avenue and the 222-unit Foundry at 505 West 54th Street join five other Archstone-Smith apartment buildings in the New York metro area. more [BusinessWeek]