Recent Long Island Commercial Real Estate Transactions – September 2018

Long Island Commercial Real Estate Transactions

American Investment Properties compiled a list of recent transactions in Long Island, New York from July 2018 through the first week of September 2018. Sourcing important details from CoStar.com, here are nine recent commercial real estate deals that have closed in recent weeks.

The list below provides insight into the sale. It includes the price sold, price per square foot, and it’s percentage leased at the time of the transaction. Additionally, a quick property summary is offered on the sold building including key factors such as building size, land size, location, and any supporting amenities.

9 Recent Commercial Real Estate Transactions in Long Island

Old Country Road Office Building

Photo Credit: CoStar

1. Lever Building

114 Old Country Rd, Mineola, NY 11501

Sale Summary

  • Sale Date: August 15th, 2018
  • Sale Price: $18,600,000
  • Price Per Square Foot: $162.65
  • Percent Leased at Sale: 96.3%

Property Summary

The Lever building is a 3-star office building located on the busy Old Country Road. The building was built in 1965 and has a size of 114,356 square feet of rentable area. There are a total of six stories – typical floor size being +/- 19,333 square feet. To easily navigate the six-story building there are two elevators. This property contains multiple tenants and plenty of parking spaces. It includes 185 covered parking spaces, and an available 200 free surface spaces.

Long Island Commercial Real Estate Listings

Long Island Commercial Real Estate

Photo Credit: CoStar

2. Port Washington Industrial Warehouse

255 Harbor Park Drive, Port Washington, NY 11050

Sale Summary

  • Sale Date: September 4th, 2018
  • Sale Price: $9,350,000
  • Price Per Square Foot: $164.77
  • Percent Leased at Sale: 100%

Property Summary

This 1-story, 3-star industrial building, located on Harbor Park Drive in Port Washington, NY was built in 1984. The building size is over 56,745 square feet and sits on 130,680 square feet of land. This industrial warehouse building is owner-occupied. It contains 5 docks, 2 drive-in bays, and 5 levelators. The property has a building height of 30 feet and a ceiling height of 26 feet.

3. Garden City Industrial Warehouse

1 South Street, Garden City, NY 11530

Sale Summary

  • Sale Date: July 27th, 2018
  • Sale Price: $4,450,000
  • Price Per Square Foot: $203.39

Property Summary

The one-story industrial warehouse property located at 1 South St, in Garden City, New York was purchased as a redevelopment project. The existing building was built in the year 1960 and totals 21,879 square feet. Also, it sits on over 52,000 square feet of land and contains a ceiling height of 14 feet. Lastly, Amenities at this property include three docks, and two drive in bays.

Commercial Real Estate Market Report Q2 2018

Photo Credit: CoStar

4. South Shore Plaza

1746-1766 Sunrise Hwy, Bay Shore, NY 11706

Sale Summary

  • Sale Date: July 18th, 2018
  • Sale Price: $3,500,000
  • Price Per Square Foot: $234.25
  • Percent Leased at Sale: 100%

Property Summary

This South Shore strip center is also known as South Shore Plaza. Built in 1978, this retail strip center offers a gross leasable area (GLA) of 14,941 square feet of space. In addition, it sits on is 1.96 acres or 85,378 square feet of land. Lastly, South Shore Plaza contains multiple tenants and ample parking to accommodate high vehicle traffic.

Office Buildings For Sale

Photo Credit: CoStar

5.  Happauge Office Building

517 Route 111, Happauge, NY 11788

Sale Summary

  • Sale Date: August 8th, 2018
  • Sale Price: $2,500,000
  • Price Per Square Foot: $185.19
  • Percent Leased at Sale: 80%

Property Summary

This three-star office building located in Happauge, New York was built in 1977. It is currently occupied by multiple tenants. The total size of this three-story building 13,500 square foot, with each of it’s floors occupying a size of 4,500 square feet. Additionally, amenities at this office property include 80 available surface spaces which hold a ratio of just under 6 spaces per 1,000 square feet. Finally, the total land size of this office property is 1.05 acres or 45,738 square feet of land.

Farmingdale Commercial Real Estate

Office Commercial Real Estate

Photo Credit: CoStar

6. Smithtown Office Building

519 W Jericho Turnpike, Smithtown, NY 11787

Sale Summary

  • Sale Date: July 16th, 2018
  • Sale Price: $2,008,000
  • Price Per Square Foot: $251.00
  • Leased at Sale: 100%

Property Summary

This two-star office property was purchased as part of a portfolio. The one-story building contains 8,000 square feet of space, and sits on 0.75 acres or 32,670 square feet of land.

Retail Storefront Building

Photo Credit: CoStar

7. Mineola Retail Storefront Building

460-468 Jericho Turnpike, Mineola, NY 11501

Sale Summary

  • Sale Date: August 1st, 2018
  • Sale Price: $1,782,000
  • Price Per Square Foot: $263.53
  • Percent Leased at Sale: 100%

Property Summary

This Mineola retail storefront building is located on the busy Jericho turnpike. Built in 1951, this property has a gross leasable area (GLA) of 6,762 square feet. It’s land space is over 0.40 acres and 18,000 square feet. Amenities at this property include available parking at the rear of the building. Additionally, there are thirty free surface parking spaces available, equaling a ratio of 4.4 spaces per 1,000 square feet.

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Medical Office Building For Sale8. Mineola Office Medical Condo

300 Old Country Road, Mineola, NY 11501

Sale Summary

  • Sale Date: August 20th, 2018
  • Sale Price: $1,263,500
  • Price Per Square Foot: $250.00

Property Summary

This three-star office condo was built in 1987 and renovated in 2007. The massive office building is 292,808 square feet, and contains six floors each with a typical floor size of 48,801 square feet. Also, for easy access throughout the six floors there are three elevators, and one freight elevator included. Lastly, an additional amenity at this property is available parking spaces. This property offers 250 covered parking spaces, equaling a ration of 5 spaces per 1,000 square feet.

9. Port Washington Office Building

270 Main St, Port Washingon, NY 11050

Sale Summary

  • Sale Date: July 23rd, 2018
  • Sale Price: $900,000
  • Price Per Square Foot: $156.20

Property Summary

This two star building is located at 270 Main St, in Port Washington, NY. The property was built in 1890, and underwent recent renovations in 2017. The total size of the three-story building is 5,762 square feet, with each floor being approximately 1,920 square feet each. Lastly, it has a total land size is 0.08 acres or 3,485 square feet.

All information and images were sourced from www.costar.com

2018-09-07T07:07:07+00:00September 6th, 2018|Categories: Long Island News|



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