Glambosky and D’Amaro Close on Purchase of Commercial Property

December 17, 2016 | Real Estate, Zoning & Land Use | Commercial Litigation

Erez Glambosky and Louis D’Amaro, as part of a 1031 exchange, closed on the purchase of a commercial property located in New Castle, Pennsylvania, subject to a Walgreens drug store lease.  The Walgreens location was the 1031 exchange “replacement property” and was purchased for nearly $7 million, with $2.7 million in mortgage financing.  In January 2017, they expect to close on a $1 million second mortgage covering the same property.

 

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