A prominent New York City real estate family has entered Stamford’s luxury apartment market with the $150 million purchase of the Beacon Harbor Point waterfront apartment complex.
In a deed recorded June 23, a limited liability company tied to Stamford-based Building and Land Technology (BLT) sold the 240-unit Beacon Harbor Point apartment complex at 1 Harbor Point Road to an LLC affiliated with Manhattan-based real estate investment and development firm Rudin.
The 333,229-square-foot waterfront property includes two residential towers rising 21 and 22 stories above a five-story base overlooking Long Island Sound. Amenities include a pool, clubhouse, lounge, rooftop deck, fitness center and waterfront promenade.
A separate deed recorded the same day transferred nearly three-quarters of an acre associated with the apartment complex from a BLT affiliate to another Rudin affiliate.
BLT has led the transformation of roughly 80 acres of former industrial land in Stamford’s South End since 2008, redeveloping Harbor Point into a mixed-use neighborhood with luxury apartments, office buildings, restaurants, entertainment venues and public parks.
Founded in 1925, Rudin is a family-owned real estate investment and development company based in Manhattan. According to the company’s website, it owns a portfolio totaling 8.6 million square feet of office space across 12 buildings and 4.5 million square feet of residential space in more than 20 properties.
The acquisition was financed with a $97.5 million mortgage from JPMorgan Chase secured by the Beacon Harbor Point property.
