Archstone-Smith recently purchased two high-rise apartment communities in New York City, adding nearly 500 units to its Manhattan portfolio.

The total value of the transactions was $282.6 million.

The company acquired The Aston, a 266-unit community in Manhattan’s Chelsea neighborhood, for $195 million, and The Foundry, a 222-unit community in Manhattan’s Clinton neighborhood, for $87.6 million.

Built in 2004, The Aston is a 38-story community offering studio, one- and two-bedroom apartments, as well as a penthouse residence. Street-level retail tenants include Bank of America and HSBC, as well as a 57-space garage.

The Foundry is a 12-story community built in 2001 at the intersection of 10th Avenue and 55th Street. The property features studio, one- and two-bedroom apartments, along with a fitness center and club room.

Archstone-Smith owns and operates a portfolio of high-rise and garden apartment communities concentrated in select U.S. markets.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top