O'Brien of M.C. O'Brien and Lipo of Crosstown Rlty. complete $11.15m sale

Michael O'Brien III, SIOR, CEO of M.C. O'Brien, Inc. and Leon Lipo of Crosstown Realty have successfully completed the sale of 1095 E. 45th St. to Nightingale Properties, LLC. The brokers cooperated on both sides of the transaction. The site is comprised of a +/- 60,000 s/f, multi-tenanted industrial building on a total lot size of 168,000 s/f. The tenant roster includes Cablevision as the anchor, Premier Lincoln Mercury, NYC DEP & Decatur Senior Citizen Center. The existing rental income was capitalized at 8.18% to yield a purchase price of $11.15 million.