Printer Friendly

How much for Girl Scouts HQ?

Now that the $24.5 deal to sell the Girl Scouts of America's headquarters has collapsed, the industry is wondering what the organization can get for the building from a new buyer.

Cushman & Wakefield has been assigned by the organization to remarket 135,000-square-foot 830 Third Avenue. Darcy Stacom, the broker assigned to the project, said the price of the building has yet to be determined. She did say, however, that the building has significant value and that the target market is a user.

An investment group led by Angelo Slabakis cited the declining market as the reason for breaking the deal they signed one year ago, reported Crain's New York Business.

Peter Hauspurg, president of Eastern Consolidated Properties, specialists in investment sales, said, while Cushman & Wakefield is "very talented", he does not think the market will bear $24.5 million or $165 per square foot. He said he is about to announce a deal with a user for 80,000 square feet and the purchase price was $90 per square foot.
COPYRIGHT 1992 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Girl Scouts of America headquarters for sale
Author:Fitzgerald, Therese
Publication:Real Estate Weekly
Date:Sep 23, 1992
Words:172
Previous Article:Riverside So. sewage plant declared not at capacity.
Next Article:Horizon Media takes 25,000 sf.
Topics:


Related Articles
GO AHEAD, BUY THE COOKIES.
LONG ANNUAL WAIT OVER AREA GIRL SCOUTS BEGIN YEARLY COOKIE DRIVE.
GIRL SCOUTS SWITCH TO FASHIONABLE NEW KHAKI DUDS, BUCKET HATS.
GIRL SCOUT COOKIES MORE THAN MERE TREATS : EXPERIENCE OF SELLING, BEING REJECTED AND BUDGETING PROCEEDS PRICELESS.
GIRL SCOUTS BUSY; COOKIES SELLING LIKE HOT CAKES.
GIRL SCOUT COOKIE DRIVE UNDER WAY.
LOCAL WOMAN RECEIVES PUBLIC RELATIONS AWARD.
LAKERS STAR GIVES ASSIST TO GIRL SCOUTS : GROUP FACED CAMP-SONG FEES.
Cyber solicitation guidelines govern affiliates. (Special Report: Online Boundaries).

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters