Castle of Excelsior Realty brokers $3.85 million sale of 37,000 s/f warehouse

Excelsior Realty Services brokered the sale of 1424 Herkimer St., a four-story, 37,000 s/f elevatored warehouse building and 1,600 s/f parking lot. The property sold for $3.85 million in an all-cash transaction. The transaction, brokered by Excelsior's Chadwick Castle, equated to $116 per s/f. The seller, Bright's Centennial Inc., previously leased the entire property to a furniture wholesaler for storage and distribution. The property was delivered vacant. The property was purchased by 1424 Herkimer Street Development LLC, a Manhattan-based industrial owner. Greiner-Maltz represented the purchaser. For more information on Excelsior Realty Services, please visit our website at www.excelsiorRS.com.