Operations

Bermuda Limousine Selling New York Property for $20 Million

Posted on May 7, 2008 by LCT Staff - Also by this author - About the author

NEW YORK CITY — The Bermuda Limousine Co. is selling its three-story 27,000-sf garage at 537-543 W. 20th St. The property is expected to fetch upwards of $20 million. Locally based Eastern Consolidated has been tapped to exclusively market the site. Eastern’s chairman Peter Hauspurg and associate Anna Maria Ronquillo along with senior directors Alan Miller and David Schechtman, and director David Lever, are the marketing team for the site.

The Bermuda Limousine Co. will continue to operate; however, the company plans to re-locate to new premises in Long Island City. Schechtman tells GlobeSt.com that a location is set for the relocation, but he cannot discuss details at this time. He notes that the Bermuda Limousine chose to sell because the "business is burgeoning, so they need more space," and because it was "the right time in the real estate cycle to sell."

Source: GlobeSt.com

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