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Sterling Equities, Investors Take Reins of LI Office Portfolio

FARMINGDALE, NY-Industry veterans form a new real estate venture, Wachtler Knopf Equities LLC, to manage and lease the seven-building office portfolio in Nassau and Suffolk counties.

By Melissa Kress | Updated on December 03, 2005

FARMINGDALE, NY-An affiliate of Sterling Equities has joined with investors to purchase a seven-building office portfolio from Blumenfeld Development Group. In addition, industry veterans have formed Wachtler Knopf Equities LLC to manage and lease the 451,000-sf portfolio in Nassau and Suffolk counties.

Wachtler Knopf Equities principals Philip Wachtler and Daniel R. Knopf own stakes in the newly acquired properties. The firm also owns an interest in a Queens condominium project and is also looking for property acquisitions of its own in the tri-state area. “We’re poised and ready to take advantage of opportunities,” Knopf says.

Wachtler Knopf Equities plans to invest “a significant amount of capital” to upgrade the properties, according to a release from the company. The portfolio includes the 160,00-sf 500 Bi-County Blvd. in Farmingdale; 115 Broad Hollow Rd., Melville; 121 Broad Hollow Rd., Melville; 1800 Walt Whitman Rd., Melville; 45 S. Service Rd., Plainview, and 125 E. Bethpage Rd., Plainview.

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