Queens Atrium Corporate Center, Long Island City, NY

Savills represented Oaktree Capital Management, LLC in the sale of this 1 million square foot Class B office building located in a large industrial area just across the East River from Manhattan in Long Island City, New York.

This unique property comprises two separate former manufacturing buildings. Their location only 5 minutes from Manhattan and large floor plates of up to 100,000 square feet made them well-suited for large telecom and back office space users. At the time of sale, over 500,000 square feet of premises were leased for 15-year terms to New York City's Department of Design and Construction, School Construction Authority and Department of Transportation.

The property was sold to a consortium of high net-worth individuals for $105 million.