December 6, 2007

Taurus Takes Former Standish Arms Hotel in New York City

HIGHLIGHT: Taurus Investment Holdings L.L.C. has closed on the former Standish Arms Hotel at 169 Columbia Heights in Brooklyn New York, the firm has reported.

Taurus Investment Holdings L.L.C. has closed on the former Standish Arms Hotel at 169 Columbia Heights in Brooklyn, New York, the firm has reported. The asset is a 74,000-square-foot, 12-story residential building went for $50 million. Taurus will reposition the Standish as a full-service residential building offering high-end, luxury rentals, some of which will be offered for immediate occupancy. The acquisition of 169 Columbia Heights represents Taurus' first acquisition in the New York market and was capitalized with financing provided by Commerce Bank.