NEW YORK CITY—The Crescent Club multifamily development in Long Island City has a new owner thanks to a deal that approached $100 million.
The 130-unit luxury apartment property traded for $97 million. The transaction was announced by Meridian Investment Sales, the commercial property sales division of Meridian Capital Group. The 140,000-square-foot mixed-use development, which also includes 6,000 square feet of retail space, was sold on behalf of Bonjour Capital to Crescent Club LLC. Lipa Lieberman, managing director of Meridian, negotiated the transaction.
"The Crescent Club offers an exceptional blend of luxury amenities and accessibility in an area that has maintained its historic character. The property has terrific interior design in the common areas and the apartments feature condominium-quality finishes as well as 10-foot ceiling heights creating a high-end loft feel," Lieberman says.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
