Lee, Schechtman, Anton and Solarz of Eastern Consol. handle $4.5 million

In a quiet off-market 1031 exchange transaction, a vacant retail condominium totaling 3,851 s/f at 221-225 Centre St., aka 161 Grand St., has traded for $4.5 million, or $1,125 per s/f. Eastern Consolidated senior director Ety Lee represented the seller, a Chinese developer, while Eastern's David Schechtman, senior director, and Eric Anton and Ronald Solarz, principals, acted on behalf of the buyer, a local real estate investor. Leon Luk, Esq. acted for the seller and Stewart Rothman, Esq., of Seligson Rothman Rothman acted for the buyer. Founded in 1981, Eastern Consolidated has emerged as one of the country's preeminent full-service real estate investment services firms, combining an unrivaled expertise in the greater New York marketplace with a worldwide roster of institutional and private investor clients. Over the years, it has been responsible for the acquisition, disposition and finance of all types of properties, including office and apartment buildings, lofts, factories, hotels, shopping centers, commercial and residential development sites, taxpayers, parking garages and lots, retail condominiums and air rights transfers.