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Brokerage
Posted: November 1, 2016
Murphy of Douglas Elliman leads negotiations with Lebenstein of Cushman & Wakefield for 15-year lease
Michael Murphy, Douglas EllimanQueens, NY Dennis Gandley of Douglas Elliman Commercial Division together with Santa Cataldo from the Massapequa residential office, secured representation for a lease of the 106,000 s/f landmark building at 82-01 37th Ave. in Jackson Heights. This space was leased with Cushman & Wakefield representing medical group Apicha Healthcare.
The 15-year lease has an aggregate value north of $15 million.
The deal was negotiated in detail by the head of operations Michael Murphy of Douglas Elliman Commercial and David Lebenstein, executive managing director at Cushman & Wakefield.
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the fourth largest residential real estate company nationwide. With more than 6,000 agents, the company operates approximately 81 offices in Manhattan, Brooklyn, Queens, New Jersey, Long Island, the Hamptons & North Fork, Westchester, Greenwich, South Florida, Colorado and Beverly Hills. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 59 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing; Manhattan’s largest residential property manager, Douglas Elliman Property Management with over 250 buildings; and DE Commercial.
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