Sales

Westfliff Shopping Center - Fort Worth, TX

Amount: $15,000,000

GHP Office Realty and its partner, RD Management, are pleased to announce that they sold a 136,000 square foot grocery-anchored shopping center located across from Texas Christian University in Fort Worth, Texas for $15,000,000 all cash; the property was 98% leased at the time of the sale. The New York based partnership purchased the property during the economic downturn in 2008 for a substantial discount to replacement value. After an extensive capital and repositioning campaign, the property’s two major buildings were net leased to credit tenants, Albertsons and Cook Children’s Health Foundation. The large multi-tenanted retail building is essentially fully occupied with such tenants as Dollar General, Ace Hardware and Subway. The 10 acre property is 3 miles from downtown Fort Worth, and located within an in-fill affluent area. The group invested the proceeds in the acquisition of 660 White Plains Road, Tarrytown, New York. RD Management is based in Manhattan and was represented by Managing Partner, Rick Birdoff. It is one of the country’s leading shopping center owners and developers. The company owns and operates over 20,000,000 square feet in 15 states and is currently developing major projects in the New York area, Minnesota, Florida and Austin, Texas.

 

33 William Street - Mount Vernon, NY

Amount: $27,500,000

Jeremiah A Houlihan of Houlihan-Parnes Realtors, LLC along with John Goad of Goad Real Estate Company is pleased to announce the sale of 33 William Street in the Fleetwood section of Mount Vernon, NY. The property is improved with a 7-story concrete block & masonry brick double-wing, residential multi-family apartment building with two (2) self-service elevators constructed in 1954. There are 117 apartments, 44 on-site outdoor parking spots, 63 garage spots, gardens and courtyard. The building is located along William Street which is block bounded north by West Grant St, South by Linden Ave, East by Gramatan Ave and West by North Terrace Ave. The property is within walking distance to the Fleetwood Train Station (Metro North Harlem line 20 mins to Grand Central Station), and bus routes along Gramatan Ave. The Cross County Center is a 5-10 minute drive from Fleetwood and car access is via the Cross County Parkway, the Bronx River Parkway and the Hutchinson River Parkway.

 

81 Main Street - Dobbs Ferry, NY

Amount: $595,000

GHP Office Realty, LLC is pleased to announce that it has sold 81 Main Street, Dobbs Ferry, NY a 3,000 square foot former bank building to Ward Capital Management, LLC of Rye New York. Andrew M. Greenspan, Principal of GHP stated “81 Main Street is a beautiful art deco building located in the heart of Dobbs Ferry’s central business district and was built in 1927 by Greenpoint Savings Bank. GHP acquired the building through a foreclosure in 2013. Ward Capital Management subsequently leased the building from GHP and has performed extensive renovations to convert it into a mixed use building containing a residential unit on the newly constructed second floor and a retail unit on the ground floor.” The owner was represented by Greenspan and Brendan Hickey, Associate at GHP. GHP’s legal representation was provided by Jamie Schwartz, Esq. of James E. Schwartz, P.C. Ward Capital Management was represented by its Principal, D’Wayne Prieto. Ward‘s attorney in the transaction was Christian Daglieri, Esq. of Montgomery McCracken Walker & Rhodes LLP.

 

27 Tompkins Avenue - Binghamton, NY

Amount: $725,000

Houlihan-Parnes Realtors LLC, has arranged the sale of a 24 unit multi-family property located in Binghamton, N.Y. Ed Graf was the broker of this transaction. The all brick, two- story garden apartment complex is located at 27 Tompkins Street and 30 Webster Street, Binghamton, NY. All the units are 2 bedrooms with one bathroom. The transaction was handled by Steve Tierney of Woods, Oviatt, Gilman L.P.P.

 

1 Delaware Avenue - Endicott, NY

Amount: $1,125,000

Ed Graf of Houlihan-Parnes Realtors, LLC has arranged for the sale of a mixed-use property located at 1 Delaware Avenue, Endicott, New York in the amount of $1,125,000. The property consists of 75 multi-family units, and a 26,406 commercial building. In addition to the 75 multi-family units and the commercial space there is a loft building that can be converted to an additional 10 apartments.

 

120 New Canaan Avenue, Norwalk, CT

Amount: $8,500,000

White Plains, New York. December 2015: GHP Office Realty’s Investment Sales Division is pleased to announce that it has sold 120 New Canaan Avenue, Norwalk, CT (a/k/a Tower Plaza) a 25,000 square foot fully leased shopping center, anchored by Rite Aid, for $8,500,000 to Developers Consolidated Realty, Inc., a New York City investor. The center is located between the Merritt Parkway and I-95 on a busy retail corridor in Norwalk, CT. The sales assignment was headed up by Jamie Schwartz, Executive Vice President of GHP, and Bryan Houlihan, Associate at GHP. Schwartz commented that “we purchased Tower Plaza in October of 2013 and subsequently invested over $500,000 in capital improvements. We are able to increase rents and bring occupancy to 100%. This transaction reaffirms our value-add strategy of purchasing well located, under-valued assets, investing capital and utilizing our leasing expertise to maximize investor returns.”

 

1049 Hoe Avenue, Bronx, NY 10459

Amount: $700,000

Jerry Houlihan of Houlihan-Parnes Realtors has arranged the sale of a 3-story brick multi-family walk-up apartment building located at 1049 Hoe Avenue in the Morrisania section of the Bronx. The property is within walking distance to the Simpson Street Subway station for the #2 and #5 trains at Westchester Avenue. The property was sold to a Brooklyn-based real estate operator for a price of $700,000.

 

Inverness Apartments, 5600 Shetland Way, Westville, NJ

Amount: $27,300,000

Rob Tiburzi of Houlihan-Parnes Realtors, LLC is pleased to announce the sale of Inverness Apartments, a garden-apartment complex located at 5600 Shetland Way in Westville, New Jersey. The complex, which includes 368 units on over 30 acres was sold for $27,300,000. According to Mr. Tiburzi, “the sale represented the successful conclusion of a ten year investment by his partners. The combination of low interest rates and a well-managed property led to us obtaining a sales price higher than most of the brokerage community expected.”

 

2275 Morris Avenue, Bronx, NY

Amount: $2,750,000

Houlihan-Parnes Realtors, LLC, represented by Jeremiah A. Houlihan, is pleased to announce the sale of 2275 Morris Ave located at the Southwest corner of East 183rd Street in the University Heights neighborhood in the Bronx, NY. The property is improved with a five-story, walk-up apartment building containing a total of 25 apartment rental units and five retail units on the ground floor. The property was sold for a sales price of $2,750,000 to a Great Neck, Long Island Real Estate Holding Company. The Seller was represented by the VALENTIN DJONOVIC, P.C. and the Buyer by James Prince, Esq. The Buyer facilitated his acquisition with a loan secured by a 1st Mortgage from a local Savings Bank at a 5-year fixed interest rate of 3.5% on a 30-year amortization schedule.

 

675 Mamaroneck Avenue, Mamaroneck, NY

Amount: $407,500

Richard Hendey of Houlihan Parnes Realtors, LLC has announced that the building located at 675 Mamaroneck Avenue, Mamaroneck, NY has been sold for a price of $407,500. The two-story brick building consists of approximately 1,800 s/f with office space on the second floor and a garage/office on the first floor. The building was sold empty to the new owner who will be using it for their own use. Hendey was the sole broker in this transaction.

 

19 Newtown Turnpike, Westport, CT

Amount: $3,500,000

GHP Office Realty, LLC, a major owner and manager of office properties in Westchester and Fairfield Counties is pleased to announce that it has been hired as the exclusive sales agent to market for sale 19 Newtown Turnpike, Westport, CT. The asking price is $3.5mm.

The 6 acre campus, which is conveniently located off of the Merritt Parkway, 10 minutes from the Westport Metro North Train Station and less than a 15 minute drive from Main Street in downtown Westport contains 3 buildings totaling 32,600 square feet. The main building is approximately 30,000 square feet and was most recently used for general office and a TV studio. Additionally, there are two single family homes that total 2,600 square feet. The property also includes parking for up to 110 vehicles. Heading up the assignment for GHP are Andy Greenspan, Principal, Jamie Schwartz, Executive Vice President and Brendan Hickey, Associate.

 

801 Encino Place N.E., Albuquerque, NM

Amount: $6,300,000

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC, have arranged the sale of Med Arts Plaza located at 801 Encino Place, N.E., Albuquerque, New Mexico. The Medical Office Center contains 17 tenant suites, of which 14 are medical and 3 are office users. The 52,735 square foot center is ideally located in the NE quadrant of Albuquerque, near “The Big I”, the interchange of Interstates I-40 & I-25.

The property was sold for $6,300,000.

 

1179 Yonkers Avenue, Yonkers, NY

Amount: $4,000,000

White Plains, New York October 2014. Jamie Schwartz, Executive Vice President of White Plains-based GHP Office Realty, LLC announced that he has sold 1179 Yonkers Avenue, Yonkers, New York for $4,000,000. The purchaser paid approximately $200 per sf for the three-story building containing 20 rent-regulated apartments and 7 retail stores. 1179 Yonkers Avenue comprises nearly one full block on Yonkers Avenue and Richfield Avenue. It is walking distance to the Mt. Vernon West Metro-North Train station and directly off Bronx River Road and the Bronx River Parkway. It’s a record price per square foot for a mixed-use building of this type in the area.

Schwartz arranged the transaction on behalf of the seller, a private New York City investor who owned the building for about 28 years. The purchaser was represented by its principals, Gary and Michael Juster of Juster Development, a private real estate investment firm. John W. Dunne, Esq. of Lynn, Gartner, Dunne & Covello, LLP was counsel for the seller. Steven C. Hirsch, Esq. of Hirsch & Gibaldi, LLP was counsel for the purchaser.

 

28-30 East 38th Street, New York, NY

Amount: $13,440,000

Fred and Sheldon Stahl of Houlihan Parnes Realtors, LLC are pleased to announce the sale of this 24-unit elevator apartment building located at 28-30 East 38th Street, New York, NY. The prime Murray Hill location, between Park Avenue and Madison Avenue, helped keep the property 100% occupied and allowed rent increases as apartments were renovated. The sale price was $13,440,000. The property was meticulously maintained by the ownership who purchased the building in 2008.

 

301 Sixth Street, Verplanck, NY

Amount: $1,300,000

Steve McCulloch of Houlihan Parnes Realtors represented the buyer in the sale of 301 Sixth Avenue, Verplanck, NY. This property consists of approximately 5.5 acres of land with 350 feet of frontage on the Hudson River and 2 buildings which total 6,000 square feet of industrial space. The buyer, one of the largest school bus operators in the region intends to use the site as a staging area for his bus operations in the northern part of Westchester County. The property sold for $1,300,000 with the seller taking back a mortgage.

 

30 Buxton Farms Road, Stamford, CT

Amount: $13,475,000

GHP Office Realty, LLC, a major owner and manager of properties in the suburban tri-state area, is pleased to announce the sale of a 65,000 square foot Class A office building located at 30 Buxton Farms Road in Stamford, Connecticut, for $13,475,000. The property is located at Exit 35 of the Merritt Parkway/CT-15 and High Ridge Road. The building is 90% occupied by 14 tenants, ranging from medical offices to the financial industry.

The seller was GHP Buxton, LLC and was represented by GHP Office Realty, LLC. The $13,475,000 sale was arranged by Andrew Greenspan and James J. Houlihan. The purchaser, MSIH, LLC, a Connecticut-based home building company, was represented by Corey R. Gubner, Ted Grogan and Greg Romano of RHYS, LLC. The seller’s attorney was Elizabeth Smith, Esq. of Goldberg Weprin Finkel Goldstein LLP. The purchaser’s attorney was Kenneth M. Gammill, Jr. of Gilbride, Tusa, Last and Spellane LLC. 30 Buxton Farms Road was purchased by the principals of GHP Office Realty and a group of private investors in 2007 for $8,000,000.

Hobbs Incorporated, a New Canaan based home builders company will be relocating their headquarters into the remaining vacant space in the building. Over the last three generations, Hobbs Incorporated has developed a proven methodology for building and has won numerous HOBI Awards from the Home Builders & Remodelers Association of Connecticut, Inc.

 

4062-4072 White Plains Road, Bronx, NY

Amount: $1,375,000

Jerry Houlihan and James Coleman of Houlihan-Parnes Realtors, LLC have arranged the sale of mixed use property located at the southeast corner of White Plains Road and East 229th Street with an address of 4062-4072 White Plains Road, A/K/A 690 East 229th Street in the Wakefield neighborhood of the Bronx, NY. The property is an irregular 9,000 sf lot with 115 feet of frontage on White Plains Road improved with a 3-story mixed-use building containing 2 retail stores and 2 apartments, a 1-story retail brick building containing 3 retail stores and a graveled used car sales lot.

The property was sold to a Long Island based management and holding company for a price of $1,375,000.

 

1097 North Broadway, Yonkers, NY

Amount: $5,500,000

Steve McCulloch and Rich Hendey of Houlihan Parnes Realtors LLC have brokered the sale of the Tara Circle property also known as Alder Manor and Bosch Hall located at 1097 North Broadway, Yonkers NY. The property consists of an architecturally significant manor house of 35,000 sq ft built in 1908 and listed on the National Register of Historic Places. In addition to the manor house, the 5.67 acres site also included a former school building known as Bosch Hall consisting of 51,000 sq ft and built in 1962. The property sold for a price of $5,500,000. The new owner plans to make a significant investment in the restoration of Alder Manor.

 

Grecian Gardens & Northgate Manor Apartments

Amount: n/a

Sheldon Stahl of Houlihan Parnes Realtors, along with Jesse Bailey, recently handled the sale of 2 large garden apartment complexes in Rochester, New York.

The Northgate Manor Apartments consists of 224 units and is located opposite the new Wal-Mart Supercenter on Dewey Avenue, Greece, New York.

The Grecian Garden Apartments is located at 72 Grecian Garden Drive, Greece, New York and consists of 267 units.

Northgate and Grecian were owned by affiliated entities of Houlihan Parnes for 10 years and 7 years respectively. Both properties were sold to a single buyer and were represented by O’Connell Moore RE.

 

310-330 Lenox Road, Brooklyn, NY

Amount: n/a

Houlihan-Parnes Realtors has sold 50 unsold cooperative apartments in a bulk sale. The apartments are located at 310 – 330 Lenox Road in Brooklyn, located a block from Downstate Medical Center. The building was converted to cooperative status in the 1980s. The units were sold in an all cash sale to a local investor. Houlihan-Parnes was represented by Michael Cuniberti and Craig Weitz. Stacey Anagnostopoulos of Goldberg Weprin Finkel Goldstein, LLP represented the seller in the transaction.

 

120 New Canaan Avenue, Norwalk, CT

Amount: n/a

Steve McCulloch of Houlihan Parnes Realtors recently handled the sale of a 25,000 square foot shopping center at 120 New Canaan Avenue in Norwalk, CT. This is a multi-tenanted retail property that was built in 1993 and is anchored by a Rite Aid Drug Store. Many of the tenants have been at this location since it was originally built and is the first sale from the original developers. The Buyers were able to secure the acquisition by making an all cash offer with no financing contingency and used this investment to satisfy a 1031 requirement.

 

2285 Andrews Avenue North, Bonx, NY

Amount: n/a

Houlihan-Parnes Realtors, LLC, represented by Jerry Houlihan is pleased to announce the sale of 2285 Andrews Ave North in the Bronx, NY located on the west side of the street between West Fordham Road and West 183rd Street. The property is improved with a five-story walk-up apartment building built in 1922 containing a total of 37 rental units plus a super’s unit in the basement. The property was sold on a co-brokerage basis with Houlihan-O’Malley Real Estate Services, Inc. The buyers satisfied a 1031 Tax Free Exchange with this purchase.

Sean Leyden of Garfunkel Wild PC represented the buyers in this transaction.

 

8 King Road, Rockleigh, NJ

Amount: $15,553,000

GHP Office Realty, a major owner and manager of properties in the suburban tri state area is pleased to announce the sale of a 185,000 square foot office and laboratory at 8 King Road in Rockleigh, Bergen County for $15,553,000 million. The property was fully leased at the time of the sale to Spectra East, a division of Fresenius Medical Care Holdings, Inc, which is the world’s largest integrated dialysis company. The company has over $12 billion in revenue and more than 73,000 worldwide employees. The 8 King Road location is the East Coast executive headquarters for Spectra East and the only integrated dialysis laboratory and testing facility serving the entire eastern half of the United States.

The property boasts 800 parking spaces, two back-up generators, abundant and multiple sources of power and state of the art fiber optic systems.

The seller was 8 King Road LLC and was represented by GHP Office Realty. The $15,553,000 sale was arranged by Andrew Greenspan and James J. Houlihan. The purchaser was MCP 8 King Road LLC a Boston MA based real estate investor and developer. Seller’s attorney was Elizabeth Smith, Esq. of Goldberg, Weprin, Finkel, Goldstein, LLP. The purchaser’s attorney was David Steinmetz, Esq. of Zarin & Steinmentz and title was handled by First American Title Insurance. 8 King Road was purchased by the principals of GHP Office Realty and a group of private investors in 2000. “8 King Road is a great property in a terrific location and Spectra is an excellent Tenant. As active owners and opportunistic investors, we felt it was time to identify other investment opportunities”, Greenspan said.

The property will undergo a multi-million dollar renovation and will house Spectra’s state of the art infrastructure and world class laboratory space. Their ability to maintain their educated and highly skilled work force, abundant parking, and access to public transportation all proved a compelling combination to renew and expand at 8 King Road. Spectra East currently employs over 500 people at the site and expects the number of employees to grow within the next few years.

 

313 Central Avenue, Scarsdale, NY

Amount: $1,850,000

GHP Office Realty’s Investment Sales Division, lead by Andrew Greenspan and Jamie Schwartz is pleased to announce that it has sold a 100 foot monopole cell tower, containing leases with cellular carriers such as Verizon, AT&T, Sprint and others, to AP Wireless Infrastructure Partners for $1,850,000. The cell tower is located at 313 Central Avenue, Scarsdale, NY.

“AP Wireless is extremely satisfied with its investment in the cell tower leases on the property,” said Eric Overman, Chief Executive Officer of AP Wireless. “At AP Wireless this deal was put together by Lawrence Harvey and Nick Goldberg, two of the most skilled professionals in our industry. The owner preferred the large payout and customized terms and conditions proposed by Lawrence and Nick over those offered by our competitors.”

Both sides represented themselves in the deal. Steven Hirsch, Esq of Hirsch and Gibaldi, LLP represented the seller.

313 Central Avenue also consists of an 18,799 square foot office/flex/medical/retail building with 2,582 square feet available for lease. It is a perfect investment for an owner/user. For additional information, contact Jamie Schwartz at (914) 642-9300 or at jschwartz@ghpoffice.com.

 

2330 Hoffman Street, Bronx, NY

Amount: $1,200,000

Jerry Houlihan and Kelly Houlihan of Houlihan-Parnes Realtors, LLC have arranged the sale of a 10,000 square foot vacant warehouse building located at 2330 Hoffman Street in the Bronx, New York. Situated on a 15,000 square foot lot between East 184th and 187th Streets, the building is a one-story fully sprinklered brick building built in 1959 on concrete slab with a driveway to a back yard. The property is adjacent to a municipal lot operated by the City of New York in the heart of the bustling Little Italy section of the Bronx. The new owners plan to open a private parking facility to handle the heavy vehicular traffic that the area experiences.

Andrew Schulson of Garfunkel Wild, PC in Great Neck, New York was the attorney that handled the transaction.

 

419-433 Mamaroneck Ave., Mamaroneck, NY

Amount: $3,400,000

Richard Hendey of Houlihan Parnes Realtors, LLC represented the seller in the sale of a building located at 419-433 Mamaroneck Ave. Mamaroneck NY. The property consists of a one story brick retail building encompassing five retail stores. The building is 100% occupied by local retail tenants and is approximately 7,200 square feet in size. The sale price was $3,400,000 and the property was purchased by a local real estate investor.

 

60 Greene Street, New York, NY

Amount: n/a

Houlihan-Parnes Realtors, LLC handled the sale of the retail condo at 60 Greene Street in the Soho neighborhood of Manhattan. The condominium unit is occupied by an old-line, family run, Italian furniture maker from Milan. They use this location to showcase kitchen and modular office build outs. They utilized the entire first floor of approximately 4,200 sq ft, and a full selling basement of approximately 3,750 sq ft. The property was bought by 60 Greene Commercial, LLC a New York partnership that owns other similar properties in the area. The sale was handled by Ted Sannella, Fred Stahl and Rob Tiburzi of Houlihan Parnes Realtors and Carol Ann Flint of Newmark Knight Frank. The sellers were represented by Michael Levine of D’Agostino, Levine, Landesman and Lederman, LLP of NYC, and the buyers were represented by Mark Mermel, Esq of Lake Success, NY.

 

12 Water Street, White Plains, NY

Amount: $3,900,000

GHP Office Realty, an owner and manager of office properties throughout the New York metropolitan area, announced that is has sold a 45,000 foot office building at 12 Water Street in downtown White Plains, directly across the street from the Metro North Train Station for $3,900,000. The building was vacant at the time of the sale. GHP Office Realty purchased the property in 2002, and for the last four years it has been fully leased to Con Edison. The purchasers are locally based investors. The new owners plan a complete renovation of the property and a re-branding and marketing program that will begin as soon as the work is complete. In addition to being centrally located, the property boasts on site parking, operable windows and small floor plates. Jamie Schwartz of GHP Office procured the buyers. The sellers were represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP

 

95 East Putnam Ave., Greenwich, CT

Amount: $4,600,000

GHP Office Realty, an owner and manager of properties throughout Fairfield and Westchester Counties, announced that it has sold a fully leased retail and office property, 95 East Putnam Avenue, located in the heart of Greenwich CT. The building is 15,000 square feet and the sale price was $4,600,000. The superbly located property is fully leased to such prestigious tenants as Chatsworth Securities, The Federalist, Gabriel Shimon Hair Salon and Sanguine, Inc. The buyers are local Greenwich based investors. Jamie Schwartz of GHP Office procured the buyers. The sellers were represented by Elizabeth Smith of Goldberg Weprin Goldstein, LLP

 

Northwest Bronx

Amount: $19,000,000

Houlihan-Parnes Realtors, LLC has arranged for the successful sale of five apartment buildings in the northwest Bronx. The buildings include two 6-story elevator buildings. Included in the sale are 2710 Valentine Avenue, which contains 36 apartments and 2695 Briggs Avenue, which contains 48 apartments. In addition, three 5-story walk-up apartment buildings have also been sold. These include 2737 Webb Avenue (on the corner of W. 195th Street) which contains 26 apartments, 3202 Kossuth Avenue which includes 32 apartments and 3215 Hull Avenue, which includes 54 apartments. Both the Kossuth Avenue and Hull Avenue properties are located north of Mosholu Parkway. The properties had been owned by a group of investors including members of Houlihan-Parnes Realtors, LLC. The properties were sold in separate transactions to several investors. All of the sales closed during the month of July, 2011. The properties sold for an aggregated price of just under $19,000,000. Jim Coleman of Houlihan-Parnes Realtors, LLC, oversaw the sale of several of these buildings and was assisted by John Manous, and Michael Cuniberti. Andrew Albstein and Doran Golubtchik of Goldberg Weprin Finkel Goldstein, LLP were the attorneys for the sellers in these transactions.

 

777 Chenango St., Port Dickinson, NY

Amount: $825,000

Ed Graf and Ted Sannella of Houlihan-Parnes have arranged for the sale of a 24 unit, multi-family property located at 777 Chenango Street, Port Dickinson, New York. The property consists of three two-story brick buildings. The property was sold for $825,000. The transaction was handled by Steve Tierney of Woods, Oviatt, Gilman L.P.P

 

300 Alexander Park, West Windsor, NJ

Amount: $6,000,000

GHP Office Realty announced the sale of 300 Alexander Park in West Windsor, New Jersey for $6,000,000. The seller was GHP Alexander LLC and was represented by GHP Office Realty. The purchaser was Bhoomi Group LLC a Princeton NJ based private investment group. The purchaser was represented in the transaction by Paul Goldman of Mercer Oak Realty. The 3 story building is 36,000 square feet and was 92% occupied at the time of the sale. The property boasts covered parking, and is walking distance to the Princeton Junction Train Station.

 

104 Windsor Center Drive, East Windsor, NJ

Amount: n/a

GHP Office Realty, representing a group of private investors, announced the sale of 104 Windsor Center in East Windsor, New Jersey; the property is 66,000 square feet and was 45% occupied at the time of sale. The purchaser was a private investor from New York City, who owns several other Princeton area properties. The purchaser was represented in the transaction by Thomas Romano, a partner in the Princeton office of Newmark Knight Frank. The property which was built for Lockheed Martin, is directly on Route 133 and Exit 8 off the New Jersey Turnpike.

 

300 Broadway, Dobbs Ferry, New York

Amount: n/a

Sheldon Stahl and Fred Stahl of Houlihan Parnes Realtors, LLC announce the sale of the Osborn Manor Apartments, a 78 unit garden apartment complex located at 300 Broadway, Dobbs Ferry, New York. The property, built in 1953, is on a 9.5 acre parcel of land overlooking the Hudson River and is within walking distance of the Dobbs Ferry Metro North Station. Many of the apartments are large duplexes. In addition to surface parking, tenants have use of garage parking. Many of the apartments have beautiful Hudson River views. The property was sold in an all cash transaction after being exclusively marketed by Houlihan Parnes Realtors, LLC in the fall of 2010. Michael Lynch represented the seller, an affiliated entity of Houlihan Parnes Realtors, LLC, as attorney. Andrew Albstein of Goldberg, Weprin represented the purchaser as attorney.

 

378 Jericho Turnpike, Syosset

Amount: n/a

Houlihan-Parnes Realtors and CLK Properties have concluded the sale of the one story bank branch building at the corner of Jericho Turnpike and South Oyster Bay Road, one of Long Island’s busiest commercial thoroughfares. The building is leased long term to Bank of America. Houlihan-Parnes Realtors and CLK Properties originally purchased the property in 2007. It was demolished and a brand new 4,000+ state of the art bank branch was built for Bank of America complete with multiple drive-up windows. Seth Stein, ESQ represented the seller in this transaction.

 

1 West Red Oak Lane, White Plains, NY

Amount: n/a

GHP Office Realty, an owner and manager of office properties throughout the New York metropolitan area, announced that it has sold a 21,000 square foot headquarters building at 1 West Red Oak Lane, White Plains, NY to the Baker Companies, who will be relocating their corporate offices from Pleasantville, NY The location, also known as the Platinum Mile, offers immediate access to the Hutchinson River Parkway, I-684, I-287 and is within minutes of downtown White Plains. The highly desirable sub-market is home to many Fortune 500 companies and has consistently out-performed the market and experienced high occupancy levels. 1 West Red Oak Lane shares its office park with 4 West Red Oak Lane. The 2 building office park has been successfully converted to a commercial condominium. 4 West Red Oak Lane, owned and occupied by GHP Office Realty, is a class A office building and offers a fitness center, café and abundant free covered parking. The building is currently 92% occupied and has available space ranging from 3,840 – 7,501 square feet.

 

Bridgeport, CT

Amount: $3,950,000

Jerry Houlihan of Houlihan-Parnes Realtors, LLC has arranged the sale of a 7-story brick double –elevator apartment building containing 67 apartments located on the Fairfield border in Bridgeport, CT. Built in 1964, the building contains laundry facilities, on-site indoor and outdoor parking for about 80 vehicles, security system, telephone –operated intercom system, and garage sprinkler system. Apartments are all updated with wall-to-wall carpeting, air-conditioning sleeves, and terraces. The property was sold to private investors.

 

40, 40A, 50, 50A Locust Hill Avenue - Yonkers, NY

Amount: $6,750,000

Jerry Houlihan of Houlihan-Parnes Realtors, LLC is pleased to announce the sale of two 6-story brick Tudor elevator apartment buildings with a drive in courtyard and on-site parking for 37 cars. The building is located at 40, 40A, 50, 50A Locust Hill Avenue in Yonkers, NY containing 102 apartments with laundry facilities in the basement. The building is located between Baldwin Avenue and Cromwell Place near the Downtown Waterfront Revitalization District just north of Getty Square and the recently approved “Chicken Island Development Site”. The property was sold in an arms length transaction to a Westchester based holding company that owns several hundred apartments in the county.

 

54 Centre Ave, New Rochelle, NY

Amount: $2,700,000

Jerry Houlihan and James K. Coleman of Houlihan-Parnes Realtors, LLC are pleased to announce the sale of a 5-story brick elevator building located at 54-60 Centre Avenue, A/K/A 328-330 Huguenot Avenue & 41-43 Westchester Place, New Rochelle, NY containing 20 very large apts, 10 stores and one office with 200 feet of retail frontage. The building is located at the corner of Centre Avenue and Huguenot Avenue in the Downtown Business Improvement District (“BID”) of New Rochelle, County Of Westchester, New York. The property is situated just a few blocks south of the newly developed “Avalon on the Sound” condominiums, Trump Plaza and New Roc City. The property was sold at a foreclosure auction and the buyer is a Westchester-based holding company with several hundred apartments in the county.

 

73-75 Centre Avenue, New Rochelle, NY

Amount: $2,275,000

Jerry Houlihan and John Manouselis of Houlihan-Parnes Realtors, LLC have arranged the sale of 73 and 75 Centre Avenue, a 5-story brick apartment building and an adjacent lot used for parking located near the Avalon and Trump Tower in downtown New Rochelle, NY. 75 Centre Avenue contains 18 apartments, 3 stores and laundry facilities, and is situated on a 78’ X 111’ lot. 73 Centre Avenue is an 80’ X 100’ lot and contains 22 parking spaces with development rights.

 

1 Byram Brook Place

Amount: $5,950,000

White Plains, New York 9/08-White Plains based GHP Office Realty, LLC announced today it has sold One Byram Brook Place, Armonk, New York for $5,950,000. The purchaser was a private user group out of Rye, New York and paid $248.00 per sf for the 24,000 sf, two story building with on-site parking. The building sits on a beautiful 2.2 acre lot off the corner of Route 22 and Interstate 684 in the prestigious Village of Armonk, New York. “We were really not looking to sell this asset because it is an irreplaceable boutique building in Armonk. This was an off market deal that worked well both in terms of our pricing expectations and the buyer’s needs” stated Andrew Greenspan, Principal of GHP. Jamie Schwartz, executive vice president of GHP added that “GHP bought the building as part of its core holdings in November of 2002 and repositioned it by investing substantial capital in lobby, bathroom and infrastructure renovations.” Andrew Greenspan and Jamie Schwartz of GHP Office Realty, LLC arranged the transaction on behalf of the seller, Coolidge GHP Byram, LLC. Howard Greenberg of Howard Properties arranged the transaction on behalf of the purchaser. Andy Albstein, Esq. and Doran Golubtchick, Esq. of Goldberg Weprin & Ustin LLP were counsel for the seller. Steve Silverberg, Esq. of Silverberg & Zalantis, LLP was counsel for the purchaser.

 

Marymount College - Tarrytown, NY

Amount: $24,000,000

White Plains-based Houlihan-Parnes Realtors, LLC, announced the sale of Fordham University’s Marymount Campus in Tarrytown, N.Y., today. The buyer is EF Education. The campus consists of three adjacent, non-contiguous parcels of land with a combined area of 25.22 acres. There are 11 buildings, including classroom buildings and residence halls, which have a total area in excess of 500,000 square feet. Built in the late 1930s and expanded through 1980, the campus will become the home of EF Education, an international educational company. James Houlihan, Andrew Greenspan and Jamie Schwartz of Houlihan-Parnes Realtors, LLC, arranged the transaction on behalf of the seller, Fordham University. Robert S. Ocko, Esq., of Harrington, Ocko and Monk, was counsel for the seller. Gerard Goldstein, Esq., of Seyfarth and Shaw in Boston, Mass., was counsel for the Massachusetts-based EF Education.

 

217 East. Hartsdale Avenue, Hartsdale, NY

Amount: $4,000,000

James K. Coleman of Houlihan Parnes Realtors, LLC arranged the sale of a two story mixed use building located at 217 East Hartsdale Avenue in Hartsdale, NY. The property is very well located in the heart of the business area of Hartsdale and is adjacent to the Metro North train station. The building was built in 1961 and contains 10,500 square feet and has four retail tenants along with four office tenants. Mr. Coleman also handled the arrangement for the financing for this sale. The loan amount was $2,800,000 with a 5.75% interest rate for 5 years with a 5 year option through Signature Bank.

 

123 North Kensico, White Plains, NY

Amount: $1,775,000

The Houlihan Parnes Realtors, LLC Brokerage division recently handled the sale of 123 North Kensico Avenue, White Plains on behalf of group of private investors. This is a two story garden apartment building built in 1962 containing 16 apartments, has indoor and outdoor on site parking and was sold for an all cash price of $1,775,000. This building is within walking distance to the White Plains CBD and was acquired by a local investment group. Steve McCulloch and Rich Hendey of Houlihan Parnes Realtors, LLC were the brokers in this transaction and Alan Snider, Esq. was counsel for the Sellers.

 

474 East Third Street, Mount Vernon , NY

Amount: $2,425,000

Steve McCulloch of Houlihan Parnes Realtors, LLC handled the sale of a 29 unit apartment building located at 474 East Third Street in Mt. Vernon NY on behalf of private investment group. This is a 3 story garden apartment building built in 1963 which has indoor and outdoor parking and has many capital improvement upgrades including but not limited to new windows, repaved parking lots and new entry ways. This property sold for an all cash price of $2,425,000 to a local investor.

 

15-16 James Street, Ossining, NY

Amount: $6,300,000

The investment sales division of Houlihan Parnes Realtors, LLC recently handled the sale of two multifamily buildings located at 15 and 16 James Street in Ossining, New York. Both properties are 3 story garden apartment buildings built in 1963 and combined, they have a total of 67 apartments. Both properties had substantial capital investment over the past 10 years with window replacements, parking lots repaved and many apartments were upgraded. These building were sold as a package for an all cash price of $6,300,000 to a local private investor. Steve McCulloch of Houlihan Parnes Realtors, LLC and Jamie Schwartz of GHP Realty were the brokers in this transaction.

 

131 Prospect Avenue, Mount Vernon, NY

Amount: $5,400,000

Houlihan Parnes Realtors, LLC brokerage division recently sold 131 East Prospect Avenue, Mt. Vernon, New York for an all cash price of $5,400,000. This is a 6 story elevator building built in 1964 that has 57 apartments, indoor and outdoor parking, and it has had numerous capital improvements over the past ten years. The property is centrally located in the downtown area of Mt. Vernon and is within walking distance to train and bus transportation. Houlihan Parnes Realtors, LLC handled this transaction on behalf of a group of private investors. Steve McCulloch and Rich Hendey of Houlihan Parnes Realtors, LLC were the brokers in this sale. Alan Snider, Esq. was the attorney representing the Sellers.

 

615 West 183 rd Street, NY, NY

Amount: n/a

James K. Coleman of Houlihan Parnes Realtors, LLC has arranged the sale of a six-story elevator apartment building with 72 apartments located at 615 West 183rd Street in the upper Manhattan section of New York. The property is located on the corner of Wadsworth Avenue and was held by the owner for 20 years. The purchaser completed a tax free exchange as part of the transaction. The seller was represented by Elizabeth Smith of Goldberg, Weprin & Ustin.

 

37 North Hillside Avenue, Elmsford, NY

Amount: $1,250,000

Jerry Houlihan and Steve McCulloch of Houlihan-Parnes Realtors, LLC have arranged the sale of a 3-story brick apartment building located near the Cross Westchester Expressway, one block from Route 9A in Elmsford, Westchester County, New York. The property address is 37 North Hillside Avenue. 37 North Hillside Avenue contains 12 apartments with on-site outdoor parking spaces for 10 vehicles. Elmsford does not practice ETPA; hence they are no rent controls in these buildings. The property was sold to a White Plains-based investor who has major apartment rental holdings in Westchester County.

 

7 Paulding Street, Elmsford, NY

Amount: $1,700,000

Jerry Houlihan and Steve McCulloch of Houlihan-Parnes Realtors, LLC have arranged the sale a two 3-story brick apartment building located near the Cross Westchester Expressway, one block from Route 9A in Elmsford, Westchester County, New York. The property address is 7 Paulding Street. 7 Paulding Street contains 17 apartments with on-site outdoor parking spaces for 10 vehicles. Elmsford does not practice ETPA; hence they are no rent controls in these buildings. The property was sold to a White Plains-based investor who has major apartment rental holdings in Westchester County.

 

2262 Jerome Avenue, Bronx, NY

Amount: $1,900,000

Jerry Houlihan of Houlihan-Parnes Realtors, LLC has arranged the sale of a one story brick retail building located at 2262 Jerome Avenue in the Bronx, New York. The building is situated at the corner of 183rd Street and Jerome Avenue. The #4 subway station at 183rd Street is directly in front of the building. Owned and managed by subsidiaries of Houlihan-Parnes since 1998, the building is leased to A&P under a 45-year lease and is due to expire in July 2015. The purchasers, who are local grocers based in Manhattan and the Bronx, are subleasing the grocery store from A&P and operate under the “Pioneer” supermarket flag. Their supermarket contains 8,300 square feet of selling space and a full basement used for dry and refrigerator storage.

 

4770 White Plains Road, Bronx, New York

Amount: n/a

Jerry Houlihan of Houlihan-Parnes Realtors, LLC has arranged the sale of a 3-story 70,000 square foot office building in the Wakefield section of the Bronx, New York near the Mount Vernon border. Formerly owned by Verizon Wireless, the property is located at 4770 White Plains Road, within close proximity of the Wakefield train station of the Metro-North Harlem line to mid-town Manhattan and three blocks away from the #2 & #5 subway stops at 241st Street. The property is situated on a one-acre lot with 200 feet of frontage on White Plains Road at the easterly blockfront between Penfield Street and East 242nd Street. It is improved with a 3-story steel and reinforced concrete constructed office building containing three floors of approximately 23,000 sf each and a basement of 2,100 sf. The 1st floor contains a loading dock and a parking garage with available space for about 40 cars as well as a freight elevator accessing the 1st and 2nd floors in addition to office space. The 2nd and 3rd floors are exclusively office space. The property is zoned R5/R6A with a C2-2 overlay allowing residential, commercial and community use. The commercial uses are to the commercial overlay including offices, grocery stores, and other retail serving local residential needs. The property was sold to a Brooklyn-based investor and was delivered vacant.

 

54-74 South Rd, Morristown, New Jersey

Amount: $13,000,000

Rob Tiburzi and Richard Slavin of Houlihan Parnes Realtors, LLC have arranged a sale in the amount of $13,000,000 for a retail building located in Morristown, New Jersey. This 54,000 sq. ft. property on South Street is conveniently located in the Central Business District. Zoning regulations could allow an increase to the size of the property. Renovation and rehab should increase the low rents.

 

14 Hall Avenue, White Plains

Amount: $1,025,000

Jerry Houlihan of Houlihan-Parnes Realtors, LLC has arranged the sale of a 2-story garden apartment building constructed in 1960 located at 14 Hall Avenue in White Plains, NY. The building contains 10 apts of which two are studios and eight are 2-bedrooms. There is on site parking for approximately 10 cars. Approximately 10 years ago the roof, entry doors and mailboxes were replaced. Recently the hallways have been painted and the oil tanks have been replaced.

 

Valley View Apartments in Vestal (Binghamton), New York

Amount: $4,750,000

Sheldon Stahl of Houlihan Parnes Realtors, LLC announces the sale of the Valley View Apartments in Vestal (Binghamton), New York. The property which was built in the 1970’s consists of 120 two bedroom Garden apartment units and was sold by an affiliated entity of Houlihan Parnes for approximately $40,000 per unit. The seller, Coolidge Vestal, L.L.C. was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for Coolidge

 

Tudor Lane Apartments, Lockport, New York

Amount: $1,848,000

Sheldon Stahl of Houlihan Parnes Realtors, LLC announces the sale of the Tudor Lane Apartments in Lockport, New York. The property which was built in the 1980’s consists of 56 Garden apartment units and was sold by an affiliated entity of Houlihan Parnes for approximately $33,000 per unit. The seller, Coolidge Lockport, L.L.C. was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for Coolidge.

 

Maple Manor Apartments, Bridgeport, New York

Amount: n/a

Sheldon Stahl of Houlihan Parnes Realtors, LLC announces the sale of the Maple Manor Apartments in Bridgeport, New York. The property which was built in the 1980’s consists of 72 Garden apartment units with garages and was sold by an affiliated entity of Houlihan Parnes for approximately $32,000 per unit. The seller, Coolidge Maple Manor, L.L.C. was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for Coolidge.

 

30 Two Bridges Road in Fairfield, NJ

Amount: $14,000,000

White Plains based GHP Office Realty announced today it has closed on the sale of 30 Two Bridges Road in Fairfield, NJ. The buyers, Marcon-Fairfield, LLC paid $14,000,000 or $152 psf. 30 Two Bridges is a highly visible 92,000 square foot three story multi tenant building and is 90% leased. Marcon has acquired a prime, multi-tenanted office building that provides strong in-place credit cash flow as well as future upside potential from the lease-up of vacant space. Built in 1986, the building ranks as the premier building in the submarket offering flexible and efficient floor plate designs, substantial amenities and high visibility from both Route 46 and Interstate 80. Current tenants include New England Life Insurance Company, Vanguard Dealer Services, and Marie Ann Greenberg, Esq. Andrew Greenspan and James Schwartz of GHP Office Realty arranged the transaction on behalf of the seller, GHP Two Bridges Delaware, LLC. Michael Lynch, Esq. of Lynch and Associates was counsel for the seller. Brad Thoubboron of MRH Real Estate Services, Inc. represented the buyers.

 

300 Mains Avenue, Syracuse, New York

Amount: n/a

Sheldon Stahl of Houlihan Parnes Realtors announces the sale of the Classic American Town Homes and Apartments in Syracuse, New York. The property which was built in 1948 consists of 130 townhouse rental units and was sold by an affiliated entity of Houlihan Parnes for approximately $32,000 per unit. The seller was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for the seller.

 

505 South Second Avenue, Mount Vernon, NY

Amount: n/a

Jerry Houlihan of Houlihan-Parnes Realtors is pleased to announce the sale of a 5-story brick walk up apartment building located at 505 South Second Avenue in Mount Vernon, N.Y. The building is located at the southeast corner of Sanford Boulevard and South Second Avenue near the Pelham border in Mount Vernon. It contains 39 apartments, 2 retail stores, storage, and laundry facilities.

 

Albany, New York

Amount: $5,700,000

Sheldon Stahl of Houlihan Parnes Realtors announces the sale of the Park Row and New Scotland Apartments in the city of Albany, New York. The properties which were built in the 1950’s consists of 130 rental units in a very well located area near many colleges, hospitals, and government offices and was sold by an affiliated entity of Houlihan Parnes for approximately $44,000 per unit. The seller, Coolidge Park Row, L.L.C. was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for Coolidge.

 

7800 Madison Avenue Huntsville, Alabama

Amount: $3,650,000

Ronald Karr of Houlihan Parnes Realtors has arranged the sale of a 6 story 60,000 square foot office building, plus 10,000 square foot of covered parking, located at 7800 Madison Boulevard in Huntsville, Alabama. The amount of the sale was $3,650,000 and was sold on an “as is”, all cash basis.

 

English Village Apartments Glen Falls, NY

Amount: $85,815,000

Sheldon Stahl of Houlihan Parnes Realtors announces the sale of the English Village Apartments near Glen Falls, New York. The property which was built in the 1980’s consists of 111 townhouse rental units with many amenities including a pool, tennis courts and was sold by an affiliated entity of Houlihan Parnes for approximately $54,000 per unit. The seller, Coolidge English Village, L.L.C. was represented by W. Stephen Tierney of Woods, Oviott Gilman LLP. Christine O’Connell More brokered the transaction for Coolidge.

 

109 North 5th Street, Saddlebrook, New Jersey

Amount: $7,850,000

Fred Stahl of Houlihan Parnes Realtors and John Friedland of Schultz Management Corp have arranged the sale of 109 North 5th Street, Saddlebrook, New Jersey. This 142,000 square foot commercial industrial building is fully rented to four tenants. The property was sold for $7,850,000.00. The attorney representing the seller was Seth Stein of Greenberg Nicoletta and Stein LLP.

 

Peekskill, N.Y.

Amount: $3,235,000

Ted Sannella of Houlihan Parnes Realtors has arranged a sale for 40 apartments in the amount of $3,235,000 located in Peekskill, NY. The property is a 6-Story Elevator Building located up a hill a short distance from the train station. The view of the Hudson River from all the apartments is beautiful. The original acquisition was financed by Bank of NY.

 

Academy Heights, Albuquerque, New Mexico

Amount: $6,287,500

Ted Sannella of Houlihan Parnes Realtors has arranged a sale in the amount of $6,287,500 for 129 Apartments at The Academy Heights Apartment Complex in Albuquerque, New Mexico. The Academy Heights Apartments are located in one of the premier sections of Northeast Albuquerque. Houlihan-Parnes/iCap Realty Advisores, LLC purchased the complex about 3 years ago and have completed a partial rehab to the common areas and the interior of most of the units. The acquisition and rehab financing was arranged through Citibank. The buyer is an active real estate investment group from the Midwest