The Feil Organization, a Manhattan-based and family-owned real estate development firm, has agreed to pay $37.4 million to buy a six-building office complex in Woodbury from RXR Realty, according to Long Island Business News. The sale of the properties, which total 192,916 square feet of space, is part of a recently-adopted strategy by RXR to shed its suburban office properties. RXR and an affiliate, Australia-based Reckson New York Property Trust, sold 19 office buildings in Westchester County, New Jersey and Long Island throughout 2017. Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE’s Institutional Properties Group worked with colleague Philip Heilpern in the company’s Long Island office in representing RXR and procuring a buyer in Feil. [LIBN]
RXR Realty sells Woodbury office complex for $37.4M
