Denver-based Archstone-Smith acquired The Westmont, a 163-unit, 16-story property at 730 Columbus Ave. in Manhattan. With a purchase price of $87.8 million, or about $538,000 per unit, the acquisition was funded mainly through tax-deferred exchange proceeds from apartment communities that Archstone-Smith has sold, and the assumption of $24.2 million in secured debt that will be paid off with the proceeds from the company's recent convertible debt offering. The seller was Columbia Westmont Associates LP.