May
15
Newmark Holdings Grabs Long Island City Office Asset
ByA joint venture between Newmark Holdings and Olmstead Properties paid $60 million for an office tower in Queens.
43-01 22nd St., Long Island City, N.Y.
New York—Newmark Holdings has joined forces withOlmstead Properties on a transaction that will leave the partners with equal ownership of 43-01 22nd St., a 225,000-square-foot office tower in Long Island City in Queens, N.Y. The partners entered into a contract to purchase the property from a group of family members led by Roger Kaufman for, as reported by the Commercial Observer, approximately $60 million.
According to a document filed with Queens County in early 1998, 43-01 22nd St. was deeded to Kaufman and others in accordance with the last will and testament of Joseph B. Kaufman…
