L&L Holding Co. And Normandy Real Estate Partners Acquire 1.2 Million SF Property For $900M
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This Office property located in NY was sold for $900,000,000 over 5 years ago. The brokers of the deal were Darcy Stacom and William (Bill) Shanahan
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- Location271 11th Avenue, Brooklyn, NY 11215
- Sale Price$900,000,000$750 PPSF
- Area1,200,000 SF
- Asset TypeOffice
- Parties2 Brokers, 1 Agency
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Deal Summary
IN CONTRACT
IMAGE: David Welsh, Robert Lapidus (@Rlapidus212) and David Levinson
DATE: 07/29/2018
ADDRESS: 271 11th Ave
PROPERTY NAME:
CITY:
MARKET:
ASSET TYPE:
PRICE: $900,000,000
SF: 1.2 Million
PPSF: $750
SELLER: Waterfront NY and Greenoak Real Estate
BUYER: L&L Holding Co. and Normandy Real Estate Partners; Finn Wentworth, David Welsh, and Jeff Gronning
BROKERS: @CBRE Darcy Stacom & Bill Shanahan
NOTE: WFNY purchased the for 12M in 1983.
PLANS: Convert 500K SF of Storage into Office or some other use per @KeikoMorris of @WSJ. -
FUN FACTS: @Rlapidus212 & Levinson ( āL&Lā ) are also building , the first full block office skyscraper built on Park Avenue in nearly 50 years #š. They together own/manage 6+ Million Sf of Class A Commercial Office in . EST in 2000, and now have grown a team of 250 people.
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271 11th Avenue
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