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.
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|Title Annotation:||ACADIA REALTY TRUST|
|Comment:||Acadia sells Inwood building for $30M.(ACADIA REALTY TRUST)|
|Publication:||Real Estate Weekly|
|Date:||Sep 20, 2017|
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