TKF Burnside Real Estate Acquires Office Property From Scott Rechler For $23.5 Million In Woodbury

The asset involved in this transaction is an office property located at 1000 Woodbury Road in Woodbury. The sale price for the property was $23,500,000. The property comprises approximately 255,019 square feet, resulting in a price per square foot of $92.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $23,500,000
• Buyer: TKF Burnside Real Estate
• Seller: Scott Rechler - RXR
• Brokers: Jeffrey Dunne, Philip Heilpern, Steven Bardsley & Travis Langer - CBRE
• Renovation Plans: $8 million to boost occupancy
• Current Occupancy: 60%

The transaction involved notable figures including Scott Rechler, representing RXR as the seller, and Jeffrey Dunne, Philip Heilpern, Steven Bardsley, and Travis Langer as the brokerage team from CBRE. TKF Burnside Real Estate's acquisition marks the purchase of RXR's final property in the Woodbury portfolio.