The project will provide 320K SF of Class-A office space and 80K SF of functional outdoor space. It will stretch over a 2-acre block between Northeast 42nd and 43rd streets and between Northeast Second and Fourth avenues.
Here are the most popular news headlines this past week on CRE-sources.
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
Future renovations planned include further upgrades to the building lobbies, additional building amenities, a new state-of-the-art conference facility, and continued upgrades to the common areas and restrooms.
JLL Capital Markets closed the sale and secured the equity for the 793-unit Modera Academical Village.
Gordon Messinger, an Executive Vice President with CBRE, will lead the marketing efforts.
The building totals more than 180,000 square feet.
The JLL brokerage team of Managing Directors Steven Hurwitz and Doug Okun and associate Madeline Fine are spearheading the office leasing at the property.
Judith (Judy) A. Dolan, Senior Vice President with Levy Realty Advisors, LLC, and Stephen Hyatt, Senior Vice President with Berger Commercial Realty, joined forces to sell the two adjoining properties in Fort Lauderdale.
Here are the most popular news headlines this past week on CRE-sources.