700 Canal Street

Stamford, CT

Project summary

Partner: Gottesman Real Estate Partners
Mountain Development Corp.

Stamford, CT

Total SF: 90,000


Gottesman Real Estate Partners
Mountain Development Corp.


  • Office
  • 90,000 SF


June 2012 – Current


  • Non-performing four building loan sale (700, 850, 860, & 880 Canal St.)
  • Located in the master planned 80 acre Harbor Point development, which had recently begun construction during the marketing process
  • Within walking distance to the Stamford Transportation Center
  • Significant capital needed to reposition buildings to class A loft-style office

Value Add / 

  • Completed a friendly foreclosure on all four buildings
  • Created individual entities and a reciprocal easement across the four-building portfolio to maximize parking and remedy historical ingress/egress issues
  • Planned and managed a full building gut renovation that included a glass-box entrance, new lobby, elevators, common areas and pre-built tenant suites
  • In 2015, ClearRock recapitalized the property and increased its ownership stake
  • Long term hold