HFF announces sale of transit-oriented retail condominium in Westchester County, New York
FLORHAM PARK, NJ – November 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Christie Place, a 12,731-square-foot, fully leased, transit-oriented retail condominium in downtown Scarsdale, New York.
The HFF team marketed the property on behalf of the seller, Ginsburg Development Companies. A private investor purchased the property free and clear of any mortgage financing.
Anchored by Bank of America, Christie Place is home to Pattiserie Saltsburg, an upscale European-style café; Julwwwwius Michael Salon; Pine Tree Organic Cleaners; Flora Nail & Spa and Chat American Grill. The retail condominium was completed in 2008 and comprises the ground-floor retail for the three stories of upscale Christie Place residences. The property is located at 1 Christie Place directly across the street from Scarsdale’s Metro-North rail station, which provides direct service to Grand Central Station in Midtown Manhattan, and is situated within Scarsdale’s central business district. Christie Place is less than one mile from the Bronx River Parkway, which offers highway access throughout Westchester County.
The HFF investment advisory team representing the seller included senior director Stephen Simonelli, senior managing director Jose Cruz, managing directors Jeffrey Julien and Kevin O’Hearn and senior director Michael Oliver.
“There is still strong demand for transit-oriented properties of all types,” Simonelli said. “The irreplaceable location coupled with the quality of the tenants attracted interest from both institutional and private investors.”
About Ginsburg Development Companies
Ginsburg Development Companies (GDC) is the premier developer in New York’s northern suburbs. For 50 years, GDC has been creating high quality residential and mixed-use communities that are sensitive to the environment and enhance the areas in which they are built. For more information please visit gdcllc.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.