None
EN
Longfellow cuts first NYC purchase loose for $87M
['Trd Staff']
New York - The Real Deal
Longfellow Real Estate Partners’ stewardship of its first New York City purchase didn’t last long.
Adam Sichol’s firm sold the Hatch Life Sciences Building at 43-10 23rd Street in Long Island City for $86.9 million, records show.
Sculptor Real Estate, a partner to Longfellow in the property’s ownership, also did not comment.
It had planned to invest another $120 million to make the building a state-of-the-art life sciences facility.
That could be a repercussion of the city’s struggling life sciences market, which faces a 32.5 percent vacancy rate and declining venture capital investment.