REBusinessOnline

CUSHMAN & WAKEFIELD BROKERS $80M SALE OF 676-ACRE SITE IN NYC

NEW YORK CITY — Cushman & Wakefield, Inc. has arranged the $80 million trade of 676 industrial-zoned acres on Staten Island’s West Shore. International Speedway Corp. (ISC) sold the parcel to Staten Island Marine Development LLC. The site represents the largest undeveloped waterfront parcel in New York City, according to Stan Danzig of Cushman & Wakefield, who represented ISC in the sale along with Jules Nissim and Stephen Elman. ISC bought the site in 2004 with intent to build an 82,000-person-capacity racetrack. However, ISC met strong public opposition, which resulted in the corporation abandoning its development initiative in 2006. In 2007, Cushman & Wakefield was retained by ISC to market the property.

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