Dermot Accepts $190.5M For 14-Building NYC Portfolio

Law360, New York (January 3, 2013, 6:40 PM EST) -- The Dermot Co. Inc. has sold a portfolio of 14 New York City buildings in two separate transactions totaling $190.5 million, real estate services firm Cushman & Wakefield Inc., which brokered the deals, announced Thursday.

Dermot Property Associates, an affiliate of The Dermot Co., sold 861 apartments and 41 retail units in Manhattan, the Bronx and Queens to the Parkoff Organization and Douglaston Realty after a competitive sales process.

"Dermot had assembled a very impressive portfolio of apartment buildings throughout New York City, which attracted substantial...
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