Sales
40, 40A, 50, 50A Locust Hill Avenue - Yonkers, NYAmount: $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, NYAmount: $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, NYAmount: $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 PlaceAmount: $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, NYAmount: $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, NYAmount: $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, NYAmount: $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 , NYAmount: $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, NYAmount: $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, NYAmount: $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, NYAmount: 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, NYAmount: $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, NYAmount: $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, NYAmount: $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 YorkAmount: 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 JerseyAmount: $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 PlainsAmount: $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 YorkAmount: $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 YorkAmount: $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 YorkAmount: 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, NJAmount: $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 YorkAmount: 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, NYAmount: 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 YorkAmount: $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, AlabamaAmount: $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, NYAmount: $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 JerseyAmount: $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 MexicoAmount: $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 |
