880 Canal Street

Stamford, CT

Project summary

Partner: Contrarian Capital Management

Stamford, CT

Total SF: 21,000


Contrarian Capital Management


  • Office
  • 21,000 SF


June 2012 – September 2013


  • 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
  • Single tenant net leased to Cornell University Veterinary Hospital

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 2013, the property was sold at +2x the allocated purchase price to the user