NEW YORK CITY—The Crescent Club multifamily development in Long Island City has a new owner thanks to a deal that approached $100 million.

The 130-unit luxury apartment property traded for $97 million. The transaction was announced by Meridian Investment Sales, the commercial property sales division of Meridian Capital Group. The 140,000-square-foot mixed-use development, which also includes 6,000 square feet of retail space, was sold on behalf of Bonjour Capital to Crescent Club LLC. Lipa Lieberman, managing director of Meridian, negotiated the transaction.

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?

 

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 © 2022 ALM Global, LLC. All Rights Reserved.