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“We believe that Stamford has emerged as a legitimate urban residential mecca,” says LMC Divisional President, New York/Tristate Area Greg Belew.
Greenwich’s Stone Point Capital has completed the $340 million acquisition of Rialto Investment and Asset Management from Lennar Corp.
Lennar bought the properties at 9 Mitchell Place and 131 Mamaroneck Ave. through a single deed recorded Oct. 3 from Devon Plaza Realty, which lists an address in Manhattan in care of JAH Realty LP.
The plans are an update to a $275 million redevelopment of the property the city approved two years ago for the same company.
Greg Belew, Lennar Multifamily Communities’ city president for the New York tristate region, told the Business Journal that the company is reworking plans for its major redevelopment of the former Westchester Pavilion mall site.