John Lanser III, Commercial Agent of Coldwell Banker Commercial NRT has negotiated the signing of a $3,000,000.00, 20,000 sq. foot, commercial sale with 23-25 First Realty Corp in New Rochelle.
Plans for the property include keeping the structure of the building as is and updating the available suites for leasing.
The site contains approximately 20,000 square feet including 21 suites on three quarters of an acre and is ideally situated in the downtown area of New Rochelle where major development is taking place in Westchester’s rising market. The property is easily accessed via the Metro North Trains, Amtrak trains and the bus depot which is serviced by Bee Line bus service. In addition, the building is situated between the two entrances of I-95, exits 15 and 16.
The building originally owned by Professional Office Building Corp. was a medical cooperative consisting of 18 physician practices of varying specialties, each of whom represented a share of the coop. The sale of the property included a 76 spot parking lot on Huguenot Street, rarely found in New Rochelle. This is the first time the property has been sold since its establishment as a medical cooperative, circa 1920. An interesting transaction in that none of physicians had leases before the sale, each lease needed to be finalized separately, this and the sale of the building was completed with the help of commercial realtor, John Lanser III of Coldwell Banker, New Rochelle.
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