10/06/08

Deal
New York City portfolio
Address
New York City portfolio
Tenant
Markland Holdings Limited
Representative
n/a
Landlord
Citibank
Landlord Representative
n/a
Notes
The six bank locations sold for $12.33 million. Citibank sold 4249 Broadway for $4.3 million; 38-18 Queens Boulevard in Sunnyside for $2.1 million; 133-07 Rockaway Boulevard in South Ozone Park for $1.98 million; 51-10 Metropolitan Avenue in Ridgewood for $1.12 million; 5324 Fifth Avenue in Brooklyn for $1.8 million; and 550 Hunt’s Point Avenue in the Bronx for $1.03 million. The bank signed a 15-year lease at each location, with options to extend for another 30 years. Citibank also entered into a $5.4 million sale-leaseback agreement with John Catsimatidis’ Red Apple Real Estate for a property at 1512 First Avenue (see below).

Category:
Commercial
Posted at:
06/04/2008
Price:
$12.33M
Size:

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