A Manhattan-based real estate investment firm has paid $221 million for a 641-unit luxury apartment complex in downtown Stamford, marking the city’s second nine-figure multifamily sale in less than two weeks.
In deeds recorded July 2, Hoboken, New Jersey-based developer and multifamily owner Urby sold the upscale apartments at 1 Greyrock Place to Pantzer.
The deal includes a seven-story, 352,296-square-foot building completed in 2019 and an adjacent five-story, 139,909-square-foot building completed in 2023.
The Point Stamford offers studio, one-, two- and three-bedroom apartments in the heart of downtown and within walking distance of rail service to New York City. Amenities include a lobby café, heated pool, fitness center, coworking spaces, covered parking and a landscaped courtyard.
On Wednesday, Pantzer was advertising studios starting at $2,340 per month, while two-bedroom apartments were listed for as much as $3,755.
Pantzer owns and manages a portfolio of more than 13,000 multifamily apartments along the East Coast, according to its website.
Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis Langer and Eric Greenberg of CBRE represented the seller and procured the buyer in the deal.
The acquisition follows another major Stamford apartment sale that occurred in late June, when a Manhattan-based investor paid $150 million for the 240-unit Beacon Harbor Point waterfront apartment complex.
