CBRE Team Sells Stamford Landmark

Jeffrey Dunne, Steven Bardsley and Christopher Leonard of CB Richard Ellis’ New York Tri-State Region Institutional Group represented One Atlantic Street Associates, L.P. and Richmond Avenue Associates, LLC, entities controlled by Ivy Realty, in the sale of One Atlantic Street in Stamford, Connecticut.

The team was also responsible for procuring the buyer, art affiliate of Seaboard Properties.

The sale price was reportedly $21.5 million.

One Atlantic Street is a landmark eight-story, 81,491 s/f office/retail property situated at the “Main and Main” corner in Stamford. The red-brick/white marble building, listed in the U.S. Historic register, was for many years the tallest building in Stamford.

With its classic interior, high visibility and prime central CBD location at the corner of Atlantic and Broad Streets, the property enjoys a broad and diverse tenant appeal with a mix of retail banking and office tenants. The building is adjacent to much of the City’s newest developments, including the new Marriott Courtyard and Target/Citibank retail center, and across the street from the City’s long-time office/public centers, including the Ferguson Library, Landmark Square and Stamford Town Center. Dunne commented, “One Atlantic Street is one of Stamford’s most historic and best-located assets. Seaboard stands to fare well from the Property’s flexible floorplates, stable retail income and diversified office income that is poised to benefit from the rent spikes currently being experienced in Stamford.”

“One Atlantic Street represents a prime, strategically-located property in Stamford, and we fully understand why Seaboard Properties was interested in its acquisition,” said Anthony DiTommaso, Jr., CEO of Ivy Equities.

“We are extremely pleased with our involvement in this property, and believe this deal is highly beneficial for both Ivy Equities and Seaboard Properties.”