Melville office complex sells for $69M

TRD New York /
Nov.November 26, 2018 02:51 PM

A two-building office complex in Melville was sold to a group of private investors in Brooklyn for $69 million, Newsday reported. The four-story, 408,917-square-foot complex was last sold for $35.77 million in 2016 to a joint venture between developer Treeline and the KABR Group, a real estate owner and operator. After that sale, the owners gave the property a “major capital renovation” of its cafe, bathrooms, communal conference room, elevators, and common areas. The price for the property, known as 3 Huntington Quadrangle, increased after the owners secured a long-term lease with Northwell Health, which occupies 120,000 square feet there, and leased another 36,000 square feet to Catholic Health Services of Long Island. Representing the sellers were Jeffrey Dunne, Steven Bardsley, and Travis Langer of CBRE’s Institutional Properties Group, along with Philip Heilpern and Robert Seidenberg from CBRE’s Long Island office. [Newsday]


Related Articles

arrow_forward_ios
The bombshell probe also found that minorities had to meet more stringent financial qualifications than white buyers. (Credit: iStock)

LI agents routinely discriminate against minority buyers, undercover probe finds

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

The Uniondale Marriott and Ten-X's Matthew Schreck (Credit: LinkedIn)

Long Island’s hotel market could be headed for a downturn

Brookfield pitches $400M mixed-use project in Manhasset, Lake Success home from Whitney Houston film lists for $6.3M & more Long Island real estate news

Brookfield pitches $400M mixed-use project in Manhasset, Lake Success home from Whitney Houston film lists for $6.3M & more Long Island real estate news

Hamptons resi brokers remain resolute, despite a slumping luxury market

Hamptons resi brokers remain resolute, despite a slumping luxury market

arrow_forward_ios