Intercontinental Real Estate Completes $62.5M Acquisition

Garden City, N.Y. — Intercontinental Real Estate Corporation acquired the Winthrop Wellness Pavilion at 1300 Franklin Ave. in Garden City, NY from Alfred Weissman for approximately $62.58 million, or $499 per square foot.

The two-story, 125,495-square-foot office and retail building was built in 1962 and renovated in 2008. It is in the Central Nassau submarket of Long Island. Key tenants in the building include Winthrop University Hospital, Morgan Stanley Smith Barney, and Healthtrax.

Managing directors Jose Cruz and Andrew Scandalios and directors Kevin O’Hearn and Jeff Julien of the HFF investment sales team represented the seller, Alfred Weissman. The buyer, Intercontinental Real Estate Corporation, was self-represented.