860 Canal Street

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

860 Canal Street was sold in December 2017 to a private equity firm that is planning to re-develop this vacant warehouse into a 100,000 square foot Class “A” office building for ITV America and other media companies.  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’ former headquarters and across the street from an 85,000 SF Fairway Market and over 2,000 newly constructed residential units.