NEW YORK CITY-Two recent sales of condo office space at 40 Broad St. have brought in approximately $10 million, brining the total take for the ownership to approximately $23 million, more than double its original investment.
In 2011, a partnership between John Hancock subsidiary Declaration Management and Cassidy Turley, acquired the condo space, which consists of floors four through seven at 40 Broad St., from Waterbridge Capital, according to Crain's New York Business.
Recent deals for the partnership's remaining space included Constructionomics, which acquired approximately 18,000 square feet, and the law firm Virginia & Ambinder, which purchased a 9,200-square-foot space. The firms paid respectively $6.4 million and $3.3 million for their condos.
David Lebenstein, senior managing director and partner with Cassidy Turley sold the spaces with the firm's Stephen Bellwood and Edward Kent. Lebenstein and his team have sold a total of five condos at the building. See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
