Printer Friendly

Time Equities, Inc.

New York-based Time Equities, Inc. has signed a contract to buy the McBurney YMCA's building on 23rd St. in Manhattan for $8.15 million. The transaction was arranged by David Lebenstein, director of sales and leasing at Time Equities, and Arlene Wysong, senior managing director at Newmark & Co. Real Estate, Inc. Wysong and Lebenstein also represented the YMCA in the purchase of a 67,000 SF space in the former Armory site on W. 14th St., which is being redeveloped by Armory Place, LLC, a partnership of The Related Companies and Orda Management. The third part of the transaction was the sale of another McBurney YMCA building, this one to Common Ground.

Lebenstein and Wysong were originally hired by the YMCA of Greater New York to develop a strategic real estate plan for five New York City facilities. This effort led to the decision to sell the McBurney YMCA's two buildings at 205 W. 23rd and 208-216 W. 24th Streets, near Seventh Ave.

In a joint transaction, brokered by Lebenstein and Wysong, the YMCA sold the 23rd St. building to Time Equities and the 24th St. building to Common Ground, a non-profit which works primarily with the homeless and low income populations.
COPYRIGHT 2000 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Real Estate Weekly
Date:Oct 4, 2000
Words:202
Previous Article:Massey Knakal Realty Services.
Next Article:A way of giving back.
Topics:


Related Articles
GGN reports NYC wiring campaign.
Time Equities, Inc.
Stuart Bruck of Time Equities, Inc.
Brooklyn neighborhood sees 1st conversion project.
Sales. (Real Estate: On the Scene).
$41M Jersey City venture sealed.
250,000 s/f of textile buildings brokered by G-M.
Time Equities, Inc.
Time Equities, Inc.
Time Equities Inc.

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