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Posted: March 19, 2019
Cohen & Perfetto works with UOVO to close $46.5 million art storage
Brooklyn, NY Cohen & Perfetto LLP worked with UOVO in the purchase of property located at 105 Evergreen Ave. UOVO purchased the former B&H warehouse for $46.5 million with the intention to renovate the space to house their art storage facility. This project will be the fourth art storage facility for UOVO.
The legal team representing UOVO was led by Louis Perfetto, Matia Nikolovienis and Christine Mulryan. Allie Aaron represented the selling company, 105 Evergreen LLC, in this transaction.
With Cohen & Perfetto’s guidance, UOVO was able to obtain further benefits during the process of this purchase by obtaining certain IDA benefits from the New York City Industrial Agency (IDA). The IDA is a conduit issuer that issues tax-exempt industrial revenue bonds that assist eligible companies to finance expansion opportunities by providing abatements on sales, real estate and mortgage recording tax.
This project will be the fourth art storage facility for UOVO.
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