NEW JERSEY—Ivy Realty, based in Montvale, N.J. and Greenwich, Conn. has acquired Station Plaza, a two-building, 420,433-sq.-ft. office complex in Hicksville, N.Y. from Duffy HH LLC. HFF marketed the complex on behalf of the seller and arranged financing for the property through Aetna Life Insurance Company on behalf of the purchaser.
The HFFsales team representing the seller was led by Andrew Scandalios and Jose Cruz, both senior managing directors, and Kevin O’Hearn and Jeffrey Julien, managing directors. HFF’s debt placement team was led by Senior Managing Director Jay Marshall.
Located at 100, 102 and 110 Duffy Ave., the complex is comprised of two five-story buildings and is situated next to the Hicksville Long Island Rail Road Station approximately 25 miles from Manhattan on Long Island. Currently, the buildings are approximately 36 percent leased to tenants that include New York Sports Club and Farmers Insurance Group, among others.
Ivy Realty is a full-service real estate investment,and management company based in Greenwich, Connecticut and Montvale, New Jersey. The Company was founded in 1996 to acquire and operate value-add commercial real estate assets in select markets within the Northeast Corridor (Boston to Washington, D.C.) and Southeastern Florida. Since 1996, Ivy has led the acquisition of more than nine million square feet of office, industrial, multi-family and retail properties in these markets.