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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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, 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.
