Houlihan Lawrence Commercial Markets $100M Hong Kong Property for Maryknoll Missionaries
John Jordan | May 24, 2016
RYE BROOK—Thomas LaPerch believes that the international listing of Maryknoll Missionaries stately Stanley Hilltop waterfront property in Hong Kong will raise Houlihan Lawrence Commercial Group’s standing in the commercial brokerage sector to a new level.
LaPerch, director and associate broker with Houlihan Lawrence Commercial Group, told Real Estate In-Depth in late April that the Stanley Hilltop assignment is the most prestigious since the commercial brokerage group was established three-and-a-half years ago.
“We are thrilled to represent Maryknoll on the sale of this incredible property, one of the finest sites available in Hong Kong,” said Thomas LaPerch, director and associate broker of Houlihan Lawrence Commercial Group. “Not only is this property exceptional in location and grandeur, but it provides a significant development opportunity as well.”
Built in 1935, Stanley Hilltop stands on 85,000 square feet of land that include pre-war colonial “east-meets-west” designed buildings. It is located next to Stanley Knoll, a luxury residential complex. The property is listed for sale at $100 million.
LaPerch said that the Maryknoll Missionaries considered the Stanley Hilltop complex as underutilized and put the property on the market for sale.
In late April, LaPerch said he was traveling to Hong Kong and that there were already 17 appointments to visit the property from potential buyers. He said that in the short amount of time the property has been on the market it had attracted “keen interest.” Houlihan Lawrence sold an underutilized 25-acre site in Ossining owned by the Maryknoll Missionaries to the Bethany Arts Community last year.
“While Maryknoll has placed Stanley Hilltop on the market, the Maryknoll missionaries will continue to serve the Chinese people and the Chinese Catholic Church as we have for almost a century,” said Father David Smith, chief financial officer of the Maryknoll Fathers and Brothers. “The Maryknoll Society remains vibrant in Asia and elsewhere around the world. As we reimagine our mission work for the 21st Century, we are taking this unique opportunity to right-size our real estate holdings, permitting us to focus more of our resources on our core mission of helping those in need and those seeking Christ around the world.”
The listing of this prestigious property perhaps puts the image of Houlihan Lawrence being just a residential firm to rest, LaPerch said. He noted that the commercial division of Houlihan Lawrence began with just three agents and has since grown to almost 20 full-time agents.
He said the commercial division is now successfully leveraging Houlihan Lawrence’s presence in the residential brokerage sector for its clients in the commercial sector.
Photo Caption: An aerial photo of the Stanley Hilltop property in Hong Kong.