X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

UNIONDALE, NY-Galaxy LI Associates, a Manhattan-based venture formed by C&K Properties and David Werner, has agreed to purchase EAB Plaza, Long Island’s largest office complex, from Coliseum Towers Associates LP. Sources said the property sold for $185 million.

Encompassing over 1.1 million sf, including office, retail, cafeteria and mechanical space, EAB Plaza also features an outdoor ice-skating rink, an indoor waterfall, and a tropical garden in its lobby. It hosts an annual tree-lighting ceremony that will continue. The twin 15-story EAB Plaza towers were built in 1984 by Coliseum Towers Associates in a joint development venture between The DeMatteis Organizations and ABN Amro Bank, N.V. Leon D. DeMatteis Construction Corp. served as the construction manager. DeMatteis will continue to have a presence at the property.

Galaxy LI Associates is a private investment group headed by C&K Properties and David Werner. Galaxy has engaged a real estate investment bank, Carlton Advisory Services, to arrange the financing. C&K Properties, headed by Meir Cohen and Ben Konnan, is a commercial real estate firm with diversified holdings throughout New York City totaling in excess of 2 million sf. C&K holds the master lease for Pier 40 at Houston Street and Hudson River Park and is under consideration as the long-term developer for a $150 million recreational, cultural and commercial use of that 150-acre waterfront site.

At the beginning of this year, GlobeSt.com reported Jones Lang LaSalle was engaged to facilitate the sale, which is expected to close this summer.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.