Greenberg of DeMarzo Realty brokers two properties for $175m

DeMarzo Realty has brokered the sale of two major Manhattan sites, including 476 11th Ave., for $175 million, according to Howard Greenberg, a partner with DeMarzo Realty. According to Greenberg, the two deals are a parking lot for an assemblage and a large apartment building. Greenberg-who, with his partner Anne DeMarzo, has specialized in assemblages for over two decades-has been speaking to both the seller and the buyer about the site since the mid-nineties. "I've actually passed on opportunities to sell this site in the interim," he says. "But I have such long relationships with both parties that I felt it would be unfair to offer the site around. I knew it would just be a matter of time. But according to Greenberg, loyalty was only one key factor; confidentiality and persistence are also essential when working on an assemblage. "We work quietly and discreetly with our customers-both seller and buyer-and achieve the same (or better) results than those who mass market a property," he says. "However, it really comes down to each individual's preference-when the seller has requested it, we have also mass-marketed properties on an exclusive right to sell. Based on Manhattan's East Side, DeMarzo Realty specializes in brokering parking lots and garages, development sites, commercial and residential buildings and apartments.