Bookspan Remains As Property Flips By Stephanie Mariel Petrellese
A Manhattan-based real estate investor and developer has purchased one of the buildings in the former Doubleday complex located along Franklin Avenue, according to a published report. Bookspan, the current tenant, will continue to lease the space from the new owner.
Nathan Halegua, owner of Jonis Realty, reportedly paid nearly $43 million to The Engel Burman Group for a 140,000-square-foot building located at 501 Franklin Avenue. Six months ago, The Engel Burman Group had purchased two buildings in the complex from Bertlesmann for about $48 million.
The Engel Berman Group is a Garden City-based, privately-owned business that owns, develops and manages properties along the East coast. Recent projects include The Seasons at East Meadow, which is described as condominiums for active adults, and The Meadows at West Hempstead, a group of 53 single-family homes on more than 10 acres.
Scott Burman of The Engel Burman Group said they see growth potential for the 130,000-square-foot building they decided to keep. Current tenants include discount airline JetBlue, and McDonnel & Adels, a law firm.
The entire 270,000-square-foot, 16.5-acre complex was once the corporate headquarters for book publisher Doubleday, which moved to Indianapolis 22 years ago after an acquisition by Bertelsmann.









