Ex-Met Strawberry Joins Wachtler Knopf Equities, Sterling Equities at Broker Open House

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More than 100 commercial real estate brokers attended a June 11 open house at the Sterling Corporate Center in Bethpage, a 200,000-square-foot office building now undergoing renovations that will bring the Shea Stadium era building into age of Citifield. Former Mets outfielder Darry Strawberry was on hand to sign authographs and pose for picture. Sterling Equities (owned by Mets owner Fred Wilpon) owns the building. Wachtler Knopf Equities also has a stake and is leasing and managing agent.

Wachtler Knopf Equities and Sterling Equities are working together to bring a Bethpage office building constructed 45 years ago into the 21st Century.

"We are taking a 1960s-era building with a great location and are turning it into a modern, functional property," said Philip Wachtler, principal of Farmingdale-based WKE, managing and leasing agent for the Sterling Corporate Center, at 999 Stewart Ave., Bethpage.

The 200,000-square-foot building is owned by Great Neck, N.Y.-based Sterling Equities and is the first of the real estate firm's holdings on Long Island to be branded.

Significant exterior and interior renovations to improve the overall image and appearance the property already are underway. A new cafe has been added and modern facilities have replaced restrooms that date back to 1964 in a portion of the building. A new lobby, renovated public spaces and new landscaping are in the offing.

More than a hundred commercial real estate brokers toured the building at a June 11 open house and meet former New York Mets star outfielder Darryl Strawberry. Sterling and WKE and Sterling also gave away as door prizes three pair of tickets to Mets-Yankees Subway Series games to be played at Citified later in June and 10 additional ticket pairs to other games.

Sterling Corporate Center, which originally housed Grumman Corp. offices and later served as the headquarters of Robert Plan Corp., has some of the largest floorplates currently available on Long Island, 50,000 square feet and 100,000 square feet. Flexible floor plans from 25,000 square feet to 100,000 square feet are available. The building also has high ceilings.

"The building's high ceilings and open floor layout provide a blank canvas to tailor construction to the specific requirements of any type of user." Said Sandy Cohen, WKE director of management.

"On site maintenance and concierge service allow us, as a management company, the ability to offer the highest high level of service to our tenants," Cohen added.

Rents, which are negotiable, are competitive. "We are offering Class-A quality office space at asking rents well below those at Class-A buildings," Wachtler said.

Located in heart of Long Island, Sterling Corporate Center is just minutes from the Seaford-Oyster Bay Expressway (New York State Route 135) and offers quick access to the Long Island Expressway and the South Shore of Long Island. The property has abundant parking with 946 spaces -- a ratio of 6 spaces per 1,000 square feet.

The building also is accessible by mass transit and is close to both the Bethpage and Hicksville stations of the Long Island Rail Road and is served by the N81 bus line operated by MTA Long Island Bus.

Located in one of Long Island's top corporate communities, the Sterling Corporate Center has among its neighbors Northrop Grumman Corp., Bethpage Federal Credit Union, Briarcliff College, Cablevision Systems Corp, King Kullen Grocery Corp. and Sleepy's.

The building's major tenant is the Northeast Alliance Insurance Agency LLC, the U.S. unit of Kingsway Financial Services, one of Canada's largest automobile insurers.

A second building at the site, a 47,000 square-foot warehouse, is being offered for sale or lease.

Additional information about the building can be found at http://SterlingCorporateCenter.com.

About Wachtler Knopf Equities
Established in 2005, Farmingdale, NY-based Wachtler Knopf Equities is a property management and leasing company overseeing a portfolio of 12 Long Island office buildings totaling more than 800,000 square feet. For more information about Wachtler Knopf Equities LLC call (516) 391-5979, visit the company's Web site: http://www.wk-equities.com or e-mail: philipw (at) wk-equities (dot) com.

About Sterling Equities
Founded in 1972 by Fred Wilpon and Saul Katz as a vehicle to develop and invest in real estate, family-run Sterling Equities and its affiliates have purchased or developed more than 17.0 million square feet of commercial property, 45,000 residential units, 8.5 million square feet of retail property and three major sports complexes. Sterling Equities has evolved over the last three decades into a diverse family of companies focused on the creation of wealth and preservation of capital. Its affiliates include the New York Mets and the Brooklyn Cyclones as well private equity, venture capital and real estate investment funds. For more information visit http://www.SterlingEquities.com


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