Massey Knakal Realty Services was the sole broker in this transaction. Broker Tom Donovan of the firm tells GlobeSt.com that the seller, Dennis Novick, wanted to sell because of the "great market," and to "consolidate his business to Brooklyn."
Donovan tells GlobeSt.com that there was "extraordinary" interest in the property. The buyer, he reveals, is a partnership between Steven Werther and Winka Dubbeldam. "The sell price was less than 8% of asking but $250,000 over the reconciled value," he says.
The property, which was entirely one-story before it was renovated with a two-story extension, is located on the southwest corner of Hubert and Collister Streets. It contains approximately 9,923 sf including mezzanine space on the ground floor and professional offices on the second and third floors. Additionally, the third floor boasts a gym, classroom and a steam bath/shower.
"The building has been completely renovated," says former Massey Knakal broker Peter DeCheser, in a prepared release. "The extension was built full on the eastern side of the property, and there are two double-wide bays on the Hubert Street side for loading."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
