Published On: Mon, Jul 20th, 2015

Activist investor Daniel Loeb buys a stake in hot neighborhood office building

The hedge-fund manager, along with the real estate firm Brickman, will revamp a 150, 000-square-foot former warehouse.

Daniel Loeb has acquired a stake in a Long Island City building at 30-02 48th Ave. Photo CoStar Group Inc Daniel Loeb

Photo CoStar Group Inc

Hedge-fund heavyweight Daniel Loeb is betting on the Long Island City office market.

Mr. Loeb has purchased a stake in 30-02 48th Ave., a 150, 000-square-foot former warehouse property in the Queens neighborhood. He has partnered with the real estate firm Brickman, which bought the building two years ago for $21 million, according to city records. The pair have plans to spend millions of dollars to refurbish the three-story building with a new lobby, elevators and other amenities, such as a roof deck… READ MORE

Crain’s new york, by Daniel Geiger

Read more about: , , , , , ,

About the Author

Wordpress site Developed by Fixing WordPress Problems