Jeffrey Dunne, Steven Bardsley and Chris Leonard of CB Richard Ellis' New York Institutional Group collaborated with Martin Lomazow and Roy Chipkin of CB Richard Ellis' Long Island office to represent the seller. The team represented the owner and also procured the buyer. GlobeSt.com has learned that the price is approximately $25 million, although CBRE could not confirm that price at this time.
The property was 96.8% leased at the time of sale. It is anchored by Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn LLP, Fatwire Corp., Liberty Mutual Insurance Co., American Student List LLC, and Kelly, Rode & Kelly LLP. A CBRE source says that the sellers have owned the building for seven years, and "it was near the end of their planned hold period."
Dunne says in a prepared statement that "with its prime LIRR commuter location, superior 4.33 per 1,000 SF covered parking ratio and quality building infrastructure, Century Plaza should be an excellent long-term investment for the new owners."
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