$84.5 million sale of Long Island City, NY office building closed by HFF

Long Island City, NY Train Station

NEW YORK, NY – HFF announced it has closed the sale (December 31, 2012) of The Center Building, a 450,000-square-foot, multi-tenant office building in Long Island City, in the borough of Queens, New York. 

                HFF marketed the property on behalf of the seller, Hampshire Properties. 

  A venture formed by affiliates of Madison Marquette and certain funds within the Perella Weinberg Partners’ Asset-Based Value strategy purchased The Center Building for $84.5 million.

 The purchaser plans to build upon the asset’s existing strong tenancy and cash flow, and to add value to both the office and retail components. The Center Building is located at 33-00 Northern Boulevard.

  

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy

Associate Director

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

krmurphy@hfflp.com