Ron Solarz, Eric Anton, and David Shechtman of EasternConsolidated represented the seller and introduced the buyer.Noyack Medical acquired essentially new medical offices withlong-term above market leases, strong cash flow and stable, creditworthy medical tenants. One Hanson Place, which is roughly 225,000total sf, has undergone a complete renovation by the seller, ajoint venture of the Dermot Co. and the Canyon-Johnson Urban Fund.The property was listed at $13 million and the rents currentlyexceed $60 psf.
CJ Follini, a managing principal and CEO of Noyack, tellsGlobeSt.com that the office condo was purchased for "close to theasking price," but would not divulge the exact price. He explainsthat the building, which was formerly known as the WilliamsburgSavings Bank Tower, is actually three buildings in one, each withseparate entrances.
"Our property starts at ground level and goes up seven stories,"Follini tells GlobeSt.com. "We are the commercial owner, there willbe a new retail owner, and the JV is in the process of selling theresidential portion." He explains that Noyack was attracted to themarket and the property because it is the largest medical officecondo in the area. The area has tremendous upside," Follinisays.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
