Rockpoint Group Takes Vintage Wall St. Towers
The two 1920s-era buildings in downtown Manhattan's financial district total 807 rental units between them.
The towers originally served as the headquarters for Brown Brothers Harriman & Co. and the Munson Shipping Co., and were transformed into residential communities a decade ago. The buildings now include a total of 807 rental apartments, amenity spaces for residents, on-site parking and ground-floor retail space. Financial terms of the transaction have not been disclosed.
The 331-unit 67 Wall St. was previously known as The Crest Lofts, and is managed by FirstService Residential, according to data from Yardi Matrix. Completed in 1921 and converted to multifamily in 2007, the building was 94 percent occupied as of August, and its 25 stories comprise studio, one- and two-bedroom apartments.
The building at 63 Wall St., formerly known as The Wall and Hanover Building, was built in 1928 as the headquarters for Brown Brothers Harriman & Co. The building was converted to multifamily in 2004 and encompasses 476 studios, one-, two- and three-bedroom units across 37 floors, according to Yardi Matrix. The asset also includes 9,500 square feet of retail space and a rooftop terrace.
Both buildings offer access to Lower Manhattan landmarks, including the World Trade Center, the New York Stock Exchange and South Street Seaport.
Carl Schwartz, Matthew Scoville and Katie Baranek of law firm Hunton & Williams LLP advised DTH Capital in the sale.
Images courtesy of Yardi Matrix