Regeneron Pharmaceuticals abandoned plans last November to spend $139 million to renovate the former Avon Products facility it had acquired in December 2023 for $38,875,000 from Avon Capital Corp.
It is recommended that all real estate brokerage firms, including commercial brokerages, enter into detailed agreements with their buyer/tenant or seller/landlord clients.
Overall, the region remains in high demand, with all areas continuing to experience exceptional competition for homes.
The transaction involved a more than 50,000-square-foot state of the art bus / transportation facility on 16.9+/-acres sold to Realterm.
Paul Adler, Esq., SIOR and Samuel Adler were recently awarded the Economic Development Award by the Hudson Valley Chapter of the New York State Commercial Association of Realtors for the successful transaction they brokered in connection with the sale of 400 Corporate Court in Valley Cottage.
The transaction involved a more than 50,000-square-foot state of the art bus / transportation facility on 16.9+/-acres sold to Realterm; a company that owns and manages transportation real estate and infrastructure assets that serve land, air, sea and rail networks across the world. The property traded for $11.8 million, according to a report in the Rockland County Business Journal.
“After 45+ years in the commercial real estate business, I am most proud of this deal for what it will bring to the local and New York State economy and humbled to share this award with my son Sam.” said Paul Adler Chief Strategy Officer of Rand Commercial
The sale of this property set an economic price record for Rockland County @ $257-per-square-foot, which will add almost $300,000 to the tax rolls and add 75 jobs to the local economy, Rand Commercial officials stated.
Regeneron Pharmaceuticals abandoned plans last November to spend $139 million to renovate the former Avon Products facility it had acquired in December 2023 for $38,875,000 from Avon Capital Corp.
Overall, the region remains in high demand, with all areas continuing to experience exceptional competition for homes.
Due to low supply, the median home price reached a new high for the month of January.
He currently serves on the OneKey MLS Board of Managers and has held prominent leadership roles, including 2022 President of the Hudson Gateway Association of Realtors.
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