NEW YORK CITY-Long Island, NY-based SMA Equities has acquired an Upper East Side building for $5.5 million. The company has bought the four-story building at 1501 Third Ave. located between East 84th and East 85th streets from 1501 Third Avenue Realty Corp.
SMA is planning to renovate the property for office and retail use. The ground and the second floors will have retail tenants, and the two upper floors will have office tenants. Jonathan Krivine with Newmark Knight Frank negotiated the deal. For the full story, go to Crain's New York Business.
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