Houlihan-Parnes Realtors

Real Estate Weekly, Jan 13, 1999

Richard Hendey of Houlihan-Parnes Realtors represented both the buyer and the seller in the sale of 419-433 Mamaroneck Avenue in Mamaroneck, NY. The subject premises consists of a one-story strip of stores located just west of the intersection of Spenser Place and Mamaroneck Avenue. The building is comprised of approximately 7,500 square feet of retail space occupied by a mix of local retail and service-oriented tenants. The owner of the property was Philip Ruth, who is a local real estate investor. The buyer was represented by Claude Priolet of Claude P. Priolet, P.C. The seller was represented by Irwin Reicher of Linett, Schecter, Reicher & Ofsevit, LLP.

The long-term Financial District leasehold covering the 27-story office tower at 90 Washington Street in Manhattan has been sold for $32 million cash. Charles L. Goldenberg, president and CEO of Sylvan Lawrence Co., Inc was the broker in this important Downtown transaction.

The seller, was J. Breed Properties, Inc. and the purchaser an investing group controlled by ZAR Realty Management Corp. Goldenberg sold the building to J. Breed Properties, Inc. in 1985 and managed it for their account.

The property at 90 Washington Street was constructed in 1969 by Sylvan Lawrence Co., Inc. for occupancy in its entirety by The Bank of New York. That lease expires in late 1999 and the then vacant building will be renovated by the purchaser. This centrally air-conditioned building is located in direct proximity to the World Trade Center and World Financial Plaza, and is adjacent to the 2,000-car Battery Parking Garage.