'Golden' building fetches $22m.Jeffrey R. Dunne and Steven P. Bardsley recently represented 411 Theodore Fremd Avenue Associates, L.P., an entity controlled by Ivy Equities, in the sale of 411 Theodore Fremd Avenue, Rye, NY for $22.6 million or $204 psf. Mr. Dunne and Mr. Bardsley were also responsible for procuring the buyer, Rye-based Willett Properties. Willett Properties, the property investment vehicle controlled by Frank Kenny and Bruce Beswick, has been very active in 2005 having completed in excess of $300 million in acquisitions in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of TriState area. 411 Theodore Fremd Avenue is an 111,078 s/f Class A office building located at the center of the "Golden Triangle Golden Triangle can refer to:
New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the business capital of the world; White Plains, NY, one of the fastest growing business centers in the Northeast; and Greenwich, CT, known as "Wall Street without the commute TO COMMUTE. To substitute one punishment in the place of another. For example, if a man be sentenced to be hung, the executive may, in some states, commute his punishment to that of imprisonment. ." The property, which was 97% leased at the time of sale to a diverse tenant roster, has tenants including New York Life Insurance Company The New York Life Insurance Company (NYLIC) is the largest mutual life-insurance company in the United States, and one of the largest life insurers in the world.[3] (24,485 s/f). Dunne commented, "The property s prestigious Rye address and location separates it from its competitors, which will help retain existing tenants and attract in tenants in the future. The new owners should fair well with this prime asset." |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion