NEW YORK CITY—A joint venture of HFZ and Vornado Capital Partners, an $800 million fund sponsored by Vornado Realty Trust, purchased 11 East 68th Street, a 100,000-sq.-ft. residential property with 100 feet of frontage on Madison Avenue, for $170 million plus closing costs and adjustments.

Built almost a century ago, 11 East 68th Street is one of the last remaining luxury rentals on the Upper East Side. The retail component consists of two stores of more than 5,000 sq. ft. and will be owned and managed by Vornado. HFZ will own and reposition the luxury rental apartments.

The 12-story neo-renaissance style property has been owned by a single entity since its architect, Herbert Lucas, designed it.