Crow Holdings Capital, a Dallas-based private equity investment company, paid $17.2 million this month for the ground-floor retail condominium at Christie Place, Ginsburg Development Cos.’ luxury residential complex opposite the Metro-North station in downtown Scarsdale.
The deal for the fully leased, 12,731-square-foot space was announced by Holliday Fenoglio Fowler L.P., whose brokerage team in Florham Park, New Jersey, marketed the property for Ginsburg Development. The buyer, CH Retail Fund 11/NYC Christie Place LLC, a Crow Holdings entity, bought the property with no mortgage financing.
Anchored by Bank of America, Christie Place is home to Pattiserie Saltsburg, Julius Michael Salon, Pine Tree Organic Cleaners, Flora Nail & Spa and Chat American Grill. The retail space in the three-story building was completed in 2008.
The Holliday Fenoglio Fowler investment advisory team representing the seller included senior director Stephen Simonelli, senior managing director Jose Cruz, managing directors Jeffrey Julien and Kevin O’Hearn and senior director Michael Oliver.
“There is still strong demand for transit-oriented properties of all types,” Simonelli said. “The irreplaceable location coupled with the quality of the tenants attracted interest from both institutional and private investors.”