Globix sells TriBeCa domain to residential developer; Condos to replace reduced Web host; Continuum treats itself to more space.(Real Estate)(206,000-square-foot data center)

Crain's New York Business, November, 2003

Byline: christine haughney Web-hosting firm Globix Corp. has agreed to sell its 206,000-square-foot data center at 415 Greenwich St. for $60 million. The new owner, Heritage Partners, represented itself in the deal and will convert the TriBeCa building into 104 luxury condominiums. The Carlton Group arranged the deal's financing.

Heritage Partners is a small player in the residential conversion market. After Globix emerged from Chapter 11 bankruptcy last year, the company cut its staff to 225 workers from 1,000 and no longer needed the space. Cushman & Wakefield Inc. represented Globix. "Owning an asset in the TriBeCa section of New York obviously made it more marketable,'' says Bob Dennerlein, Globix's chief financial officer. "It's a wonderful...

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