$170 million buys NYC apartments

Building includes parking, retail

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Archstone-Smith Operating Trust recently paid $170 million for a luxury apartment building on Manhattan's Upper East Side. A limited liability company, 303 East 83rd LLC, sold The Camargue, which comprises 268,750 square feet and 261 units located on the northeast corner of Second Avenue and 83rd Street. Constructed in 1976, the building has 125 feet of frontage on 83rd Street and 153 feet on Second Avenue; a two-level parking garage for 115 cars; and more than 6,400 square feet of corner retail space, which was occupied at the time of sale by Tony Di Napoli's Restaurant and a dry cleaner. ...