Scarsdale, NY According to Helmsley Spear, LLC and Imperial Capital Co., they have collaborated in the sale of a single-tenant net lease bank building. The subject is occupied by TD Ameritrade, and located at 880 Central Park Ave. The property is a two-story structure comprising 5,000 s/f. The sale price was $10.25 million.
Helmsley Spear acted on behalf of the buyer, Garden Street Apartments LLC, while Andrew Nemeroff, president of Imperial Capital represented the seller.
“We are thrilled to have brokered the sale of the TD Ameritrade building to Garden Street Apartments and wish them great success with their new investment,” said Kent Swig, president of Helmsley Spear.
“It was a pleasure working with Helmsley Spear to close this transaction and I look forward to closing on more deals with the firm in the future,” said Nemeroff.
The tenant, has an S&P credit rating of A, and the newly constructed property has a 15-year lease with contractual increases until 2031. Located on a high-traffic commercial corridor, the building is close to retailers, including Walgreens, Chase Bank, Staples, Pizza Hut, and Red Lobster.