860 Canal Street

Active & Complete Portfolio
Partner: Gottesman Real Estate Partners & Mountain Development Corp.

860 Canal Street is a 90,000 SF warehouse/office building that is in the early stages of redevelopment as office, residential or self-storage. ClearRock may re-develop the building itself or sell to a specialized product-type developer. This waterfront asset features a 1,000 foot marina and a roof-top helipad. In 2012, ClearRock and a partner purchased a non-performing loan on a 4-building portfolio and completed a friendly foreclosure. In 2015, ClearRock increased its ownership stake and recapitalized the asset (together with 700 Canal and 850 Canal) alongside Gottesman Real Estate Partners and Mountain Development Corporation. The complex is a mix of unique buildings located in the heart of the master-planned 80-acre Harbor Point development, adjacent to Starwood Hotels’ new headquarters and across the street from an 85,000 SF Fairway Market and nearly 2,000 newly constructed residential units.