Glick Property Group’s $232 Million Sale of Third Avenue Blockfront

Stroock’s National Real Estate Group advised GPG LLC (Glick Property Group), the capital focused affiliate of Mautner-Glick Corp. (co-founded by Alvin H. Glick in 1959), in the $232 million sale of a six-building block of long-held Third Avenue assets to 3rd Avenue Blockfront LLC, a subsidiary of The University Financing Foundation, Inc. (TUFF).

The parcel included the blockfront on Third Avenue between East 76th Street and East 77th Street on the Upper East Side, including six separate buildings with a mixture of retail and residential uses. Following the closing, the subsidiary and Northwell Health, the state’s largest health care provider and private employer, are expected to develop a new outpatient care center, ambulatory surgery center, cancer center and medical offices on the site.

Mautner-Glick is a family-owned property and asset manager of multi-family and mixed-use properties devoted to providing clean, comfortable, secure and modern living. The company, led by Randy Glick is based in New York.

The Stroock real estate team included partners Ross Moskowitz (Picture), Karen Scanna, Trevor Adler and Mayer Greenberg; special counsels Jon Ziefert and John Egnatios-Beene; and associates Mary Cooke, Yee Hong and Brian Senie.

Involved fees earner: Ross Moskowitz – Stroock; Trevor Adler – Stroock; Mary Cooke – Stroock; John Egnatios-Beene – Stroock; Yee Hong – Stroock; Karen Scanna – Stroock; Jon Ziefert – Stroock; Mayer Greenberg – Stroock; Brian Senie – Stroock;

Law Firms: Stroock;

Clients: Mautner-Glick Corp.;

Author: Ambrogio Visconti