NEW YORK CITY—The Crescent Club multifamilydevelopment in Long Island City has a new owner thanks to a dealthat approached $100 million.
The 130-unit luxury apartment property traded for $97 million.The transaction was announced by Meridian Investment Sales, thecommercial property sales division of MeridianCapital Group. The 140,000-square-footmixed-use development, which also includes 6,000 square feet ofretail space, was sold on behalf of BonjourCapital to Crescent Club LLC.Lipa Lieberman, managing director of Meridian,negotiated the transaction.
"The Crescent Club offers an exceptional blend of luxuryamenities and accessibility in an area that has maintained itshistoric character. The property has terrific interior design inthe common areas and the apartments feature condominium-qualityfinishes as well as 10-foot ceiling heights creating a high-endloft feel," Lieberman says.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
