1. Engineer Bldg in Manhasset, NY
Sale Date: August 10, 2022
Address: 1295 Northern Blv,. Manhasset, NY 11030
- Sale Price: $6,200,000
- Price/SF: $563.64
Roslyn Lake Properties LLC sold this 11,000-square-foot property to an unknown buyer for $6,200,000. The subject property in Manhasset was built in 1959 and was later renovated in 1979. The two-story property sits on 0.77 acres of land. There are 54 on-site parking spaces and the building has an elevator.
The property was on the market for just over five years with an original asking price of $6,200,000. The building is zoned as Business A and the property is set to be redeveloped for different use.
2. Office Building in Centereach, NY
Sale Date: July 28, 2022
Address: 2100 Middle Country Rd, Centereach, NY 11720
- Sale Price: $5,941,479
- Price/SF: $162.12
This sale was part of a 2 property portfolio. Commander Enterprises LLC sold this property to GAZ Realty Inc. This 56,000-square-foot office building is made up of 4 stories and the building has 3 elevators. This class A property has 130 on-site parking spaces and consists of multiple tenants.
One of the tenants on location is the Community Development Corp of Long Island. This company is a non-profit organization with the mission to invest in the housing and economic aspirations of individuals and families. They do this by providing solutions that foster and maintain vibrant, equitable, and sustainable communities.
3. Office Building in Plainview, NY
Sale Date: July 14, 2022
Address: 1 Ames Ct, Plainview, NY 11803
- Sale Price: $5,175,000
- Price/SF: $132.95
Dunkirk Realty sold this 38,900-square-foot office building to One Ames Realty LLC. The two-story building was constructed in Nassau County in 1978 and has an elevator for its two floors.The building is zoned as Light Industrial. There is an 18 foot ceiling clear height, 2 drive-in doors, and 30 x 32-foot columns. There are approximately 70 on-site parking spaces.
The Italian Food and Beverage Corp was a notable tenant at the time of sale. This company is the owner and direct importer of Dino Luzzi Energy Drink and has its own car racing team.
4. Medical Office Condo Unit in Hauppauge, NY
Sale Date: August 17, 2022
Address: 200 Motor Pkwy, Hauppauge, NY 11788
- Sale Price: $4,400,000
- Price/SF: $440.00
- Cap Rate: 5%
Racanelli Realty sold this 10,000-square-foot medical office condo to Watral Bros Inc. This class B property was built in 1984. The property sits on 310,600 square feet of land and is zoned C6.
The condo unit is located within Hauppauge Industrial Park, which sits next to the Long Island Expressway.The occupant of the specific condo unit is unknown, but the property is largely filled with medical tenants.
A tenant of the property is the Smith Institute for Urology at Northwell Health. The institute is an internationally recognized Department of Urology. The group is world-renowned in the treatment of prostate, kidney, bladder, and testes cancers, and was the first in developing and offering safer and less invasive treatments.
5. Flex Office Building in Hauppauge, NY
Sale Date: July 25, 2022
Address: 25 Suffolk Ct, Hauppauge, NY 11788
- Sale Price: $3,900,000
- Price/SF: $221.41
This 17,600-square-foot office building is a class C property in Suffolk County and was built in 2005. The building also can be used for warehouse space.
A current tenant of the property is AVZ & Company which is one of the largest certified public accounting firms on Long Island. While the sale was reported to be an owner-user sale, it’s not clear if AVZ & Co purchased this property.
AVZ & Co provides financial, accounting, auditing, tax, and consulting services to a variety of businesses and industries on Long Island.
6. Office Building in Woodbury, NY
Sale Date: August 12, 2022
Address: 211 Crossway Park Dr, Woodbury, NY 11797
- Sale Price: $3,250,000
- Price/SF: $325.00
Ute Properties LLC sold this 10,000-square-foot office building to Fanco International Corp. The subject property in Woodbury, New York was built in 1965 and sits on 1 acre of land. The property has 30 on-site parking spaces.
Fanco International Corp is a distributor and wholesaler of a variety of store merchandise. The company owns two locations, the other location being in Valley Stream.
7. Medical Office Building in Huntington, NY
Sale Date: July 1, 2022
Address: 700 New York Ave, Huntington, NY 11743
- Sale Price: $2,825,000
- Price/SF: $314
- Cap Rate: 6%
SightMD sold this class B medical office building which is 9,000 square feet. It sold at a 6% cap rate. The asset was fully occupied at the time of sale with two specialty medical practices. Sight MD occupied the first floor, and Replenish Health and Wellness Center occupied the second.
This sale was driven by stable tenants and a fantastic location. It is just a short distance from downtown Huntington and a mile from Huntington’s LIRR station. Additionally, the Big H Shopping Center directly across New York Avenue is undergoing significant renovations with multiple national tenants, such as ShopRite and Home Depot.
8. Medical Office Condo Building in Hauppauge, NY
Sale Date: August 8, 2022
Address: 515 Route 111, Hauppauge, NY 11788
- Sale Price: $2,200,000
- Price/SF: $163
This class C medical office property in Suffolk County was built in 1978. The property has 45,300 square feet of land and is composed of 3 stories, totaling a 15,000 square foot building size.
Recent renovations at this property include new lighting, roof, and bathrooms. There is parking capacity for 200 vehicles on the 1-acre lot. Kassin Sabbaugh Realty was the seller while the buyer was Forte Properties NY.
The medical office building was marketed as ideal for an end-user or investor. At the point of sale, the building was reportedly 23% leased. It’s likely the new owner’s plans are to lease up the space with more medical office tenants.
9. Office Property in Mineola, NY
Sale Date: July 6, 2022
Address: 167 Willis Ave, Mineola, NY 11501
- Sale Price: $2,100,000
- Price/SF: $210
This 10,000-square-foot office building was sold by Carmel Ltd to buyers recorded under New York Jesus Baptist Church. This class B property, located in Nassau County and built in 1939, sits on 9,600 square feet of land.
There were primarily attorneys occupying the space. However, the Village of Mineola has now approved a variance to convert the property to religious use.
New York Baptist Church is relocating from Whitestone and will be occupying this office property.
10. Medical Office Building in Plainview, NY
Sale Date: September 14, 2022
Address: 824 Old Country Rd, Plainview, NY 11803
- Sale Price: $1,400,000
- Price/SF: $217
Island Neurological sold this 6,440-square-foot office building. It was built in 1987 and is considered a class B building. Reports suggest the building was owner-occupied by Island Neurological at the point of sale. It’s unclear if the sale was to an investor or if Island Neurological plans to vacate the building in the near future.
Island Neurological specializes in comprehensive diagnostic and treatment services for all neurological conditions. Specific treatment services that Island Neurological provides to its patients are injection therapy and infusion therapy.
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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.