Brooklyn
developer buys 400 Executive Blvd. for $4.33M
By
ALEX PHILIPPIDIS :: December 22, 2006
400 Executive Blvd. in Ossining
has changed hands, from Leon & Bonnie Silverman’s
Silverman Realty Group in White Plains to a Brooklyn developer-owner
with a key redevelopment project in the borough to its
credit.
Industry City Associates, through the entity 400 Executive
Boulevard L.L.C., shelled out $4.33 million to Silverman’s
400 Executive Boulevard Ossining L.L.C. for the 24,193-square-foot
400 Executive Blvd. and surrounding 6 acres, according
to a deed filed Dec. 14 with the County Clerk’s
office.
An Industry City Associates principal was unavailable
for comment earlier this week.
Industry City Associates made a name for itself in New
York City starting in 1986, when it acquired the old Bush
Terminal from Harry B. Helmsley and partners, then filled
much of its long-underutilized industrial space with a
variety of commercial tenants.
The industrial park, in Brooklyn’s Sunset Park section,
is named for its original developer Irving T. Bush (1869-1948),
and flourished in the first half of the 20th century with
the borough’s shipping industry. The terminal was
an active port till 1974, by which time the rise of containerization
moved shipping activity to New Jersey and elsewhere.
According to mrofficespace.com,
two second-floor spaces were available at 400 Executive
Blvd. as of Dec. 5 – one of 5,500 and one 2,500
square feet. Asking rent for both spaces is $22 per square
foot. DLC Management Corp. of Tarrytown is the building
agent.
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