850 Canal Street

Stamford, CT

Project summary

Partner: Gottesman Real Estate Partners & Mountain Development Corp.

Stamford, CT

Total SF: 70,000


Gottesman Real Estate Partners & Mountain Development Corp.


  • Office
  • 70,000 SF


June 2012 – Current


  • Purchased a four-building, non-performing loan (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
  • Planned vacancy of anchor tenant in 2017

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
  • In 2015, ClearRock recapitalized the property and increased its ownership stake
  • In 2017, a full building renovation was undertaken to bring the building up to the same standards of 700 Canal St. – including a new lobby and high-quality prebuilt suites
  • Long term hold