John Ginley of Wiggin & Dana represented the seller, while Jeffrey R. Dunne of CB Richard Ellis' New York Tri-State Investment Team procured the buyer. The acquisition arranged a 1031 tax exchange for Ceruzzi, according to CB Richard Ellis officials.
CBRE brokered the sale of Two Soundview Dr. in December 2002 on behalf of Hines/Calpers to Maiden Lane Associates in a deal reported at the time at $17.3 million. "Similar to 55 Railroad Ave., which sold late last year, Two Soundview Dr.'s convenient access to Downtown Greenwich, Metro-North and the major transportation routes of the region make it ideally located and irreplaceable within the Greenwich market," Dunne says.
Louis Ceruzzi, president of Ceruzzi Holdings, says his firm plans to embark on an upgrade of the common areas at the site. A mix of financial services firms and hedge funds occupies the building, located at the convergence of Arch Street, Railroad Avenue and Soundview Drive.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
