Printer Friendly

Acadia sells Inwood building for $30M.

New Jersey-based firm Fairbridge Properties has acquired an office building in Inwood for $30.58 million, according to city records.

The property, located at 4055 Tenth Avenue, is a one-story building at the northeast corner of East 216th Street and Tenth Avenue.

The 60,000 s/f facility is leased entirely by the city's Human Resources Administration, according to a listing from Cushman & Wakefield. The building's roof is also leased to parking lot operator, SP Plus.

The seller is Acadia Realty Trust. The firm acquired the property for $5 million in 2005. Acadia is part of a joint venture that controls the City Point complex in Downtown Brooklyn. Last month, the firms sold a majority stake in a rental tower on the site to the Brodsky Organization.

Fairbridge, which has its headquarters in Princeton, is a firm focused on acquiring and managing properties in the $15 to $45 million range. Its portfolio includes office buildings in in Virginia, Indianapolis, Colorado and Utah.

COPYRIGHT 2017 Hagedorn Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Comment:Acadia sells Inwood building for $30M.(ACADIA REALTY TRUST)
Publication:Real Estate Weekly
Date:Sep 20, 2017
Previous Article:Evergreen acquires internet insurer.
Next Article:Skyline Developers buys Plaza District site.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |