East Haven, CT - (December 2010) - Steven Inglese represented Marcy Realty, a New York City based private investment firm in the sale of 100 South Shore Drive in East Haven for $3,400,000. The 45,000 s/f class A office building had 6600 sf vacant at the time of sale. Built in 1987, the building was leased to three tenants and traded for a 10.75% cap rate. The buyer assumed a conduit mortgage along with the deal.
Mr. Inglese previously sold this building to Marcy Realty in 2006 when he represented Oddysey Funding, a Long Island based investor.