Deals > Sales

English Village Apartments Glen Falls, NY
Amount: $85,815,000 Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, LLC 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.
Multi-family portfolio consisting of 602 apartments in 13 locations
Amount: $14,700,000 Ed Graf and Ted Sannella of Houlihan-Parnes/ iCap Realty Advisors have arranged the acquisition of a multi-family portfolio consisting of 602 apartments. The package consists of 13 locations: Binghamton, Endicott, Endwell, and Johnson City. The amount of sale was for $14,700,000. The buyer was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman L.P.P.
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.
Morristown, New Jersey
Amount: $13,000,000 Rob Tiburzi and Richard Slavin of Houlihan Parnes/iCap Realty Advisors, 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
109 North 5th Street, Saddlebrook, New Jersey
Amount: $7,850,000 Fred Stahl of Houlihan Parnes/iCap Realty Advisors, LLC, 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.
Albuquerque, New Mexico
Amount: $6,287,500 Ted Sannella of Houlihan Parnes/iCap Realty Advisors, LLC 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
Albany, New York
Amount: $5,700,000 Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, LLC 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.
Valley View Apartments in Vestal (Binghamton), New York
Amount: $4,750,000 Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, 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
7800 Madison Avenue Huntsville, Alabama
Amount: $3,650,000 Ronald Karr of Houlihan Parnes/iCap Realty Advisors, LLC 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.
Peekskill, N.Y.
Amount: $3,235,000 Ted Sannella of Houlihan Parnes/iCap Realty Advisors, LLC 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.
40 Garden Street, Poughkeepsie, NY
Amount: $2,485,000 Jerry Houlihan and Jim Coleman of Houlihan-Parnes/iCap Realty Advisors, LLC have arranged the acquisition of a 5-story 27,000 square foot office building in downtown Poughkeepsie, N.Y for an investment group headed by Houlihan-Parnes. The property is located at 40 Garden Street at the southwest corner of Mill Street (Route 44) and Garden Street and contains on-site parking. The buildings’ tenants include Stewart Title, Chase Bank & the Poughkeepsie Teachers union.
2262 Jerome Avenue, Bronx, NY
Amount: $1,900,000 Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, 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.
Tudor Lane Apartments, Lockport, New York
Amount: $1,848,000 Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, 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.
7 Paulding Street, Elmsford, NY
Amount: $1,700,000 Jerry Houlihan and Steve McCulloch of Houlihan-Parnes/iCap Realty Advisors, 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.
37 North Hillside Avenue, Elmsford, NY
Amount: $1,250,000 Jerry Houlihan and Steve McCulloch of Houlihan-Parnes/iCap Realty Advisors, 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.
4 Locations in New Jersey and Connecticut
Amount: Sale GHP Office Realty of White Plains, NY has been appointed the exclusive agent for the sale of four office properties located in New Jersey and Connecticut. Adam Rochlin and Jamie Schwartz of the GHP Investment Division will oversee the marketing campaign for these multi tenanted suburban office buildings located at 104 Windsor Center in East Windsor, New Jersey and 300 Alexander Park in West Windsor, New Jersey. Both buildings are located in the Princeton corridor. In Fairfield County, Connecticut, the buildings are 38C Grove Street in Ridgefield and 30 Buxton Farms in Stamford. 104 Windsor Center is a 65,000 square foot fully leased one story office building with three tenants. The anchor tenant is Abbott Laboratories. The building has 190 parking spaces. The 36,000 square foot office complex at 300 Alexander Park is in the Township of West Windsor with a direct walking path to the Princeton Junction Train Station. The building is 30% occupied and offers a user in the Princeton marketplace an ideal opportunity. The building has 138 parking spaces. In Fairfield County 38C Grove Street in Ridgefield is a 24,000 square foot Class A three story office building fully leased by multiple tenants, and represents a solid investment opportunity at below replacement cost. 30 Buxton Farms in Stamford is a three story office building located at the intersection of High Ridge Road and the Merritt Parkway. The building recently underwent a complete renovation including new lobby, directories, bathrooms, corridors, and HVAC. The building is about 50% leased to seven tenants with the balance available for lease. “We are excited to introduce these four suburban office properties to the investment marketplace,” said Rochlin. “The locations of all the buildings make the assets exceptional investment opportunities for both investors and occupants. As the investment sales market continues to pick up steam, these four properties will generate a lot of interest.”
505 South Second Avenue, Mount Vernon, NY
Amount: Sale Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors 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.
300 Mains Avenue, Syracuse, New York
Amount: Sale Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, LLC 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.
378 Jericho Turnpike, Syosset, Long Island
Amount: Sale Houlihan Parnes Realtors, Scarsdale, NY, CLK Management of Great Neck, NY and Menowitz Management, Elmhurst, NY announces the acquisition of the retail property located at 378 Jericho Turnpike, Syosset, Long Island. The property located at the corner of Jericho Turnpike and South Oyster Bay Road, which includes a Bank of America Branch, is a prime retail corner that the group will redevelop. 378 Jericho Turnpike is located within 1 mile of 2.1 million sq.ft at Crossways and Gateways office parks which are also owned by the group.
Tarrytown, New York
Amount: Sale GHP Office Realty LLC is pleased to announce that it has been retained as the exclusive sales agent for the Fordham University, Marymount College Campus located at 100 Marymount Avenue in the village of Tarrytown, New York. The property is in the affluent county of Westchester, 20 miles north of New York City. Currently occupied and utilized as a private college, the Fordham University, Marymount Campus includes 11 campus buildings, totaling over 500,000 square feet. Situated on over 25 acres with commanding and magnificent Hudson River views, the site offers unparalleled development possibilities.
Maple Manor Apartments, Bridgeport, New York
Amount: Sale Sheldon Stahl of Houlihan Parnes/iCap Realty Advisors, 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.
14 Hall Avenue, White Plains
Amount: Sale Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, 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.
4770 White Plains Road, Bronx, New York
Amount: Sale Jerry Houlihan of Houlihan-Parnes/iCap Realty Advisors, 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.

© 2006-2008 All rights reserved. Contact Us.
One West Red Oak Lane, White Plains, NY 10604 Tel (914) 694-6070 Fax (914) 694-6072