News
Daniel Loeb Joins Brickman in LIC Warehouse-to-Office Conversion
July 20, 2015
Hedge fund titan Daniel Loeb, like many power players in real estate and finance, likes the percolating Long Island City office market. He has purchased a stake in the Brickman-owned 150k SF warehouse at 30-02 48th Ave. Together, they plan to renovate the three-story building, outfitting it with a new lobby, elevators, and amenities like a roof deck, Crain's New York reports. LIC's budding office market was spurred by a city rezoning and has recently attracted action from Vornado Realty Trust, RXR and Invesco. Brickman purchased the building for $21M. No word on how big Loeb's stake is. [Crain's]
