New York & Tri-State + Tri-State | November 30, 2018

Woodmere Academy Sells Parcel in CBRE Deal

CBRE has arranged the sale of part of Lawrence Woodmere Academy’s 10-acre campus. The private school sold a 1.33-acre parcel for $2.5 million to the Friedman Group.

CBRE’s Elli Klapper, Charles Berger, Jay Gelbtuch and Daniel Brandel represented the seller. The team also procured the buyer.

“Our team was able to work with Lawrence Woodmere Academy to identify an opportunity for the school to monetize a portion of its land, without disturbing any of the school’s existing or future operations,” said Gelbtuch. “This partnership will allow the school to secure capital for its day-to-day operations, while allowing the developer to acquire a large piece of rare contiguous land in Woodmere.”

Added Klapper, “This particular area of Nassau County is a high barrier-to-entry market, so opportunities like this are very rare. The site is zoned for single-family homes, which there is a very high demand for in Woodmere.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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