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RXR Realty sells 6 buildings in Woodbury for $37.4M to Manhattan company

The Feil Organization has purchased six buildings in

The Feil Organization has purchased six buildings in Woodbury, including 65 Froehlich Farm Blvd., for $37.4 million from RXR Realty. Credit: CBRE

Uniondale-based RXR Realty has sold six buildings in Woodbury for $37.4 million to the Feil Organization, a Manhattan-based real estate company, according to brokers.

The medical and office buildings total more than 192,900 square feet of space and are short drives away from Syosset Hospital, Plainview Hospital and St. Joseph Hospital. The properties are located at 65, 105, 175 and 225 Froehlich Farm Blvd., 800 Woodbury Rd. and 99 Sunnyside Blvd.  

Michael Maturo, president of RXR Realty, said in a statement that the company "has created significant value" in the buildings by "repositioning ...  the properties"  and improving occupancy rates. 

RXR manages 69 commercial real estate properties and investments in the metropolitan area with an asset value of about $18.1 billion.

Jeffrey Dunne, Steven Bardsley, Travis Langer and Philip Heilpern of brokerage firm CBRE’s Long Island office represented RXR in the deal.

“The portfolio’s proximity to major highways and to area hospitals, and the fact that it is in one of the most affluent areas in Long Island, creates a platform for the Feil Organization to maintain the current high medical occupancy," said Dunne, vice chairman of CBRE's Institutional Properties Group, in a statement. "The new owner will also be able to generate additional upside by converting the 41,000 square feet of office into medical space.”

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