Meyer of Colliers International represents seller in $8.2 million, 30-year lease-hold sale; Berger of Rosewood Realty Group represented buyer, NorthEnd Equities

Colliers International has arranged the sale of a 30-year lease-hold at 16 West 36th St. for $8.2 million. Investment company NorthEnd Equities purchased the controlling interest in the 12-story, 65,000 s/f building from Beach Plaza Associates. "This was a classic win-win," said Eric Meyer, a senior managing director and principal with Colliers International, who represented the seller. "Beach Plaza was able to increase the building's value over time and walk away with a profit. And NorthEnd now has an opportunity to renovate the building, further increase its value and enhance the tenancy." Meyer, who specializes in lease-hold transactions, said that 16 West 36th St. is located in an area that continues to draw heavy interest from a growing number of tenants who prefer to take office space outside of Manhattan's more corporate office precincts and is therefore poised to achieve strong rents. David Berger, of Rosewood Realty Group, represented the buyer. Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 510 offices in 61 countries. A subsidiary of FirstService Corporation, it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.