Jack Guttman Of Pearl Realty Management Acquires Hatch Life Sciences Building For $86.9M

The property involved in this transaction is the Hatch Life Sciences Building located at 43-10 23rd Street in Long Island City. The asset, which is dedicated to life sciences, comprises a total area of 208,000 square feet and was sold for a price of $86,900,000, reflecting a price per square foot of $418.

Summary of transaction details:

• Property Type: Life Sciences
• Transaction Amount: $86,900,000
• Address: 43-10 23rd Street
• Market: Long Island City
• Sale Price: $86,900,000
• Square Footage: 208,000
• Price Per Square Foot: $418
• Buyer: Jack Guttman - Pearl Realty Management
• Seller: Adam Sichol - Longfellow Real Estate Partners & Steven Orbuch - Sculptor Capital Management

Jack Guttman represents Pearl Realty Management as the buyer in this transaction, while Adam Sichol represents Longfellow Real Estate Partners and Steven Orbuch represents Sculptor Capital Management as the sellers. Longfellow Real Estate Partners sold the building at a price lower than the $92.5 million it paid for the property in 2021 alongside Sculptor Capital Management.