A New Rochelle physicians’ cooperative has sold its approximately 20,000-square-foot office building at 421 Huguenot St. to a New Rochelle realty company for $3 million.
The buyer, 23-25 First Realty Corp., also acquired a 76-space parking lot on Huguenot St. with the 5-story, 21-suite office building. The seller, Professional Office Building Corp., represents a medical cooperative consisting of 18 physician practices of varying specialties.
The sale deal, and first-time leases for doctors holding shares in the medical co-op, were brokered by John Lanser III, an agent at Coldwell Banker Commercial NRT in New Rochelle.
Lanser in a press release said this is the first time the property has been sold since its establishment as a medical cooperative around 1920. The new owner plans to maintain the building as medical office space and update available suites for leasing.