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Ashkenazy Picks Up NY Suburban Retail in “Irreplaceable Location”
Ashkenazy Acquisition Corp. has added Vernon Hills Shopping Center in Eastchester, NY to its 14-million-square-foot portfolio. The New York City-based private real estate investment firm purchased the five-building, 380,000-square-foot Westchester County asset for more than $125 million from Vernon Hills Shopping Center LLC.
“Ashkenazy Acquisition Corp. had been eying this investment property—with its irreplaceable location and remarkable tenant demand—for more than 15 years,” said Cushman & Wakefield’s Andrew Merin. “This was a family-owned and operated asset since it was originally developed in the 1950s, and as such it can be considered a once-in-a-lifetime acquisition.”
Cushman & Wakefield’s Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt orchestrated the sale with colleagues Matt Lisk and Al Mirin. The firm’s John Alascio, Gideon Gil, Sridhar Vankayala, TJ Sullivan and Maya Steinberger represented Ashkenazy in arranging acquisition financing.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
