Juergen Ostertag Acquires 25% Interest In Industrial Property In Manhattan From Continental Worsteds For $11M

The property involved in this transaction is an industrial asset located at 368 Broome St in New York City's Manhattan market. The seller, Continental Worsteds, sold a 25% undivided interest in the property to the buyer, Juergen Ostertag, for a total price of $44 million. The price of the 25% interest was $11,000,000.00. The total square footage of the property is 32,214, with a price per square foot of $1,365. The buyer only purchased a 25% interest in the property, which is why the price is pro-rated.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $44 million (25% interest: $11,000,000.00)
• Address: 368 Broome St, New York
• City: New York
• Market: Manhattan
• Total Square Footage: 32,214
• Price per Square Foot: $1,365

The seller, Continental Worsteds, and the buyer, Juergen Ostertag, were the key individuals involved in this deal. Continental Worsteds represented themselves, while Juergen Ostertag did not have a broker representative in this transaction.