Pearl Realty Management Acquires Office At 21-00 49th Avenue From BrightSpire Capital For $28M

The property asset involved in the transaction is an office located at 21-00 49th Avenue in Long Island City. The sale price for the property was $28,000,000, with a total square footage of 129,068, which brings the price per square foot to $216.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $28,000,000
• Address: 21-00 49th Avenue
• Market: Long Island City
• Square Footage: 129,068
• Price per Square Foot: $216
• Buyer: Pearl Realty Management
• Seller: BrightSpire Capital
• Buyer's Representative: David Ratner - Douglas Elliman
• Seller's Representative: Daniel O'Brien - Newmark

The transaction featured David Ratner representing the buyer, Pearl Realty Management, and Daniel O'Brien representing the seller, BrightSpire Capital. Each broker played a crucial role in facilitating the deal between the involved parties.