Jeffrey Dunne, Steven Bardsley and Chris Leonard of CB RichardEllis' New York Institutional Group collaborated with MartinLomazow and Roy Chipkin of CB Richard Ellis' Long Island office torepresent the seller. The team represented the owner and alsoprocured the buyer. GlobeSt.com has learned that the price isapproximately $25 million, although CBRE could not confirm thatprice at this time.
The property was 96.8% leased at the time of sale. It isanchored by Forchelli, Curto, Schwartz, Mineo, Carlino & CohnLLP, Fatwire Corp., Liberty Mutual Insurance Co., American StudentList LLC, and Kelly, Rode & Kelly LLP. A CBRE source says thatthe sellers have owned the building for seven years, and "it wasnear the end of their planned hold period."
Dunne says in a prepared statement that "with its prime LIRRcommuter location, superior 4.33 per 1,000 SF covered parking ratioand quality building infrastructure, Century Plaza should be anexcellent long-term investment for the new owners."
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