Manufacturing Property at 135 Spagnoli Rd, Melville, NY
1. Manufacturing Building in Melville, NY
Sale Date: July 18, 2022
Address: 135 Spagnoli Rd, Melville, NY 11747
Sale Details:
- Sale Price: $35,150,000
- Price/SF: $295.38
This 119,000-square-foot industrial building was built in 1965 and renovated in 1975. It has 300 on-site parking spaces. It was sold by Perfume Worldwide and was purchased by Brookfield Properties.
The deal was a sale-leaseback with the seller, Perfume Worldwide. Perfume Worldwide, a distributor of fragrances, cosmetics, and other personal care products, will remain at the property for the next five years. The massive demand for warehouse and distribution facilities has been the driving force in big sales like these.
2. Warehouse in Oceanside, NY
Warehouse property at 3400 Lawson Blvd, Oceanside, NY
Sale Date: July 5, 2022
Address: 3400 Lawson Blvd, Oceanside, NY 11572
Sale Details:
- Sale Price: $7,700,000
- Price/SF: $179.07
3400 Lawson Blvd LLC sold this 43,000-square-foot industrial building to an undisclosed buyer. The property completed construction in 1980 and sits on 1.5 acres of land. The clear height for the building is 22 feet, and there are 11 dock extensions and 2 drive-in doors.
A tenant at the time of sale was Food Authority, Inc. The company services international airline carriers with wholesale food ingredients such as canned goods, fresh produce, and dairy products. The company has multiple distribution centers in New York, Maryland, and Massachusetts.
3. Warehouse in Roslyn, NY
Warehouse building at 34 Lumber Rd, Roslyn, NY
Sale Date: July 13, 2022
Address: 34 Lumber Rd, Roslyn, NY 11576
Sale Details:
- Sale Price: $7,650,000
- Price/SF: $196.67
The Kalikow Group sold this property to an undisclosed buyer. This building is composed of 38,900 square feet and was built in 1956. There are 4 dock extensions, 1 drive-in door, and the building’s clear height is 14 feet. There are 56 on-site parking spaces.
Dr. Munch Wholesale Distributor was a tenant at the time of sale. They distribute natural, organic, and eco-friendly groceries, snacks, beverages, and perishables. The company covers New York, New Jersey, Connecticut, and Pennsylvania.
4. Manufacturing Building in Plainview, NY
Manufacturing building at 1478 Old Country Rd, Plainview, NY
Sale Date: August 9, 2022
Address: 1478 Old Country Rd, Plainview, NY 11803
Sale Details:
- Sale Price: $6,350,000
- Price/SF: $270.22
Recovery Realty I sold this 26,200 square-foot industrial building to Giapreet LLC. The building completed construction in 1972 and sits on 1.3 acres of land. The clear height is 14 feet, and there are 2 dock extensions and 1 drive-in door.
The building was reportedly vacant at the time of sale and remains to be available for lease.
5. Warehouse in Brentwood, NY
Warehouse building at 180 Heartland Blvd, Brentwood, NY.
Sale Date: August 12, 2022
Address: 180 Heartland Blvd, Brentwood, NY 11717
Sale Details:
- Sale Price: $4,950,000
- Price/SF: $206.25
BCDI Realty Company LLC sold the 24,000-square-foot industrial building to Faropoint, a real estate investment firm that focuses on last-mile industrial properties. The subject property was built in 1986 and sits on 2 acres of land. The clear height of the building is 18 feet, and there are 2 dock extensions and 2 drive-in doors.
The property was fully occupied at the time of sale by Biochemical Diagnostics, Inc. Biochemical Diagnostics is a manufacturer and marketer of medical products. The products are used in toxicology and clinical laboratories as well as in handheld devices.
6. Light Industrial Building in Plainview, NY
Light industrial building at 31 Commercial St, Plainview, NY
Sale Date: August 23, 2022
Address: 31 Commercial St, Plainview, NY 11803
Sale Details:
- Sale Price: $4,780,000
- Price/SF: $251.58
Dunkirk Realty sold this light industrial building to 31 Plainview NY Holding LLC. At this location is a 19,000-square-foot warehouse. The warehouse was built in 1961. The clear height of the building is 15 feet and it comes with 3 drive-in doors. The drive-in doors are 10 feet wide by 12 feet tall. It has one exterior dock and cross docks.
The property was marketed as an investment or owner-user opportunity. The purchaser was likely interested in this industrial asset due to its proximity to the Long Island Expressway and its capabilities. The property offers heavy power at 2,800 amps and gas heating.
7. Auto Warehouse Building in New Hyde Park, NY
Auto Warehouse Building at 20 1st Ave, New Hyde Park
Sale Date: July 20, 2022
Address: 20 1st Ave, New Hyde Park, NY 11040
Sale Details:
- Sale Price: $4,240,000
- Price/SF: $2,245.76
This industrial building consists of 1,890 square feet. July Auto Wrecking was the seller while Rosewood Realty Group was the buyer. The property was built in 1930, has 3 drive-in doors, and has a building height of 20 feet. The property was reportedly 100% occupied at the time of sale.
The location’s previous uses include an auto body shop, a junkyard, car storage, and vehicle storage for a local school bus company.
8. Industrial Building Freeport, NY
Aviation Avionics building at 210 Hanse Ave, Freeport, NY
Sale Date: July 6, 2022
Address: 210 Hanse Ave, Freeport, NY 11520
Sale Details:
- Sale Price: $4,150,000
- Price/SF: $138.33
This 30,000-square-foot industrial building was sold by Aviation Avionics & Instrument and was purchased by KP Developers. It was built in 1965 and is primarily occupied by businesses in the Aviation industry. It features 2 stories, 2 docks, and 1 drive-in door.
Now the previous owners, Aviation Avionics & Instrument was also occupying the property at the sale. It is unclear whether they have performed a sale-leaseback or have plans to vacate. The company provides advanced tools and repairs for avionics, flight instruments, and other aviation parts.
9. Warehouse in Deer Park
Industrial property located at 200 Corbin Avenue in Deer Park, NY.
Sale Date: July 6, 2022
Address: 200 Corbin Ave, Deer Park, NY 11729
Sale Details:
- Sale Price: $3,500,000
- Price/SF: $464.75
This industrial warehouse is approximately 2,500 square feet, and is zoned for BU3. Paraco Gas was the seller while Pratt Brothers, Inc. was the buyer. It was built in 2000 and the building has a clear height of 18 feet. There are 4 dock extensions and a total of 10 drive-in doors. The property sits on 1.3 acres of land which is ideal for equipment storage.
Post-sale, Paraco Gas is reportedly still at the location as the tenant. According to records, they are on a triple-net lease until July 2025. Paraco Gas is a propane supplier to both homes and businesses. At this location they store propane tanks and vehicle equipment.
10. Flex Warehouse Building in Copiague, NY
Outside of flex warehouse property at 1445 S Strong Ave, Copiague
Sale Date: August 8, 2022
Address: 1445 S Strong Ave, Copiague, NY 11726
Sale Details:
- Sale Price: $3,350,000
- Price/SF: $159.52
This 21,000-square-foot industrial building was sold by Long Island Corvette Supply to Seabreeze Mechanical. The property was built in 1961, features 2 dock extensions, and 1 drive-in door. The clear height is 14.5 feet and there are 40 on-site parking spaces. The building provides an office component of 5,000 square feet, and 16,000 square feet of warehouse space. This warehouse is located on a corner lot and spans the entire face of the block.
This transaction was an owner-user sale and the original asking price was $3,750,000.
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American Investment Properties (AIP) Inc., was founded by Ron Koenigsberg on July 4th, 2001. AIP specializes in the sale and acquisition of commercial real estate on Long Island. Participating in over $2 billion worth of property sales to date, AIP is a well-known and highly respected name in the Long Island commercial real estate community.
