Caseley of ABS Partners handles $10 million commercial condo sale to New York University

ABS Partners Real Estate, LLC arranged the sale of the entire third floor at the Silk Building at 14 East 4th St. The purchaser, New York University (NYU) acquired the 12,851 s/f floor in the form of a commercial condo. The purchase price was $10 million. The condo is a block front property on 4th St. that contains retail, commercial and residential condos. According to Peter Min of NYU, the space will be used to coordinate activities of the NYU in Dubai. The commercial condo was initially leased by ABS to NYU in 2007, the lease provided for an option to purchase which was exercised by the university. The entire transaction, lease and resulting sale were handled by ABS executive managing director Jay Caseley. "The transaction made sense for both parties. Accommodating the needs of NYU is critical to the well being of the city. NYU attracts the brightest and most talented students globally, many of whom go on to successful careers in business, science and the arts," he said. ABS Partners Real Estate LLC is a New York based real estate investment, brokerage, management and consulting firm specializing in representing owners of real estate in the acquisition, repositioning and development of commercial and residential properties.