Daryl Hagler has taken control of an under-construction mixed-use tower development at 3-50 St. Nicholas Avenue in Ridgewood, Queens, in a $75.8 million all-cash transaction recorded Tuesday.
City records show that the property changed hands through entities connected to Hagler, who is known as a real estate investor and health care executive. The transaction involves one of Ridgewood's more closely watched development sites.
The project had been tied to entities associated with a troubled developer before the sale, according to Commercial Observer. The change in ownership puts a new sponsor in charge of completing the mixed-use tower.
For investors, brokers and prospective tenants, the acquisition will shift attention to the project's construction status, financing plan and eventual leasing strategy. No further details on those plans were disclosed in the available transaction records.
