Prudential Investment Closes On Laurel Retail
September 8, 2011
By: Katherine Clarke

Real estate investment firm Prudential Real Estate Investors has closed on its purchase of three separate commercial condominium units, including one parking garage, at the Alexico Group's Laurel condominium building at 400 East 67th Street, according to public records filed with the city today. The units were acquired Aug. 24 for a combined $61.6 million, records show. ...

... Woody Heller, Will Silverman and Eric Negrin of Studley's Capital Transactions Group represented Alexico in the transaction. Prudential handled the deal in house. 

"The Laurel represented a rare package in New York City: class A real estate, long-term leases and investment grade credit, but with a mortal transaction size," Heller said. "This unusual combination garnered the interest of institutional investors both domestic and foreign and reflects the market's appetite for the asset class." ...

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