Clarett sells retail condo for $18.6m.Sonnenblick-Goldman, acting on behalf of Clarett Capital LLC (Logical Link Control) See "LANs" under data link protocol.LLC - Logical Link Control , has arranged the $18.6 million sale of the retail condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. at 2770 Broadway, the 22-story, 64-unit luxury condominium recently completed at the southeast corner of West 107th Street. The price represented a 5% cap rate. The buyer was a private group based in Atlanta, Georgia. "Having leased the 7,500 s/f of ground floor space to the Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. and Lenscrafters, we believed it was the right time to sell the retail condominium," says Dan Hollander, managing director of Clarett Capital, a joint venture between Clarett Group and Prudential Real Estate Investors A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. . "The buyer was attracted to the tenancy, the financing available and the quality of the neighborhood," says S-G's Steven A. Kohn. |
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