Schwartz of GHP Office completes $3.9 million sale of 45,000 s/f office building; Smith of Goldberg Weprin Finkel Goldstein reps seller

GHP Office Realty has sold a 45,000 s/f office building at 12 Water St. for $3.9 million. The building was vacant at the time of the sale. GHP purchased the property in 2002, and for the last four years it has been fully leased to Con Edison. The purchasers are locally based investors. The new owners plan a complete renovation of the property and a re-branding and marketing program that will begin as soon as the work is complete. In addition to being centrally located, the property has on-site parking, operable windows and small floor plates. Jamie Schwartz of GHP procured the buyers. The sellers were represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP. GHP Office Realty is the office building division of Houlihan-Parnes Realtors, LLC which is presently one of the New York area's leading owners, operators and purchasers of suburban class A office space. GHP Office Realty has acquired, financed, redeveloped, leased and managed more than 3.5 million s/f. Regionally, the partners presently own and manage buildings in Westchester County, Fairfield County, Rockland County and in Bergen County and Princeton, New Jersey. In addition, with a Long Island based partner, it owns and manages 52 buildings and approximately 2.5 million s/f in Nassau and Suffolk Counties. For more information, please contact Andy Greenspan at 914-642-9300 ext. 346 or by email at: [email protected]