Pryor Cashman Clients Close Major Deals in Bronx
A joint venture comprised of affiliates of The Chetrit Group and Somerset Partners closed on the $165 million sale of two prime development sites located at 101 Lincoln Avenue and 2401 Third Avenue, along the Harlem River waterfront in the Mott Haven section of the Bronx. The properties were purchased by affiliates of Brookfield Properties on September 5, 2018. Pryor Cashman had previously represented the joint venture in connection with the acquisition and financing of the properties, which it acquired in late 2014 and early 2015 for $58 million. Doug Harmon and Adam Doneger from Cushman & Wakefield brokered the transaction.
Pryor Cashman partners Todd Soloway , Danielle Schechner and associate Ari Tran, all members of the firm's nationally-recognized Real Estate Group, represented the joint venture on both the 2014-2015 acquisition and financing and the recent sale.
News of the deal was reported in several publications, including Real Estate Business Online.
About Pryor Cashman's Real Estate Group
Located in one of the most dynamic real estate markets in the world, Pryor Cashman’s premier Real Estate Group helps clients buy, sell, develop, lease and invest in properties in New York City and across the U.S. With decades of experience representing every type of player in the real estate market, we have handled a diverse range of transactions and we know how to creatively structure and efficiently close virtually any real estate deal.
