Exterior of 2-50 Great Neck Rd, Great Neck NY
1. The Gardens at Great Neck
- Address: 2-50 Great Neck Rd, Great Neck, NY
- Sale Date: November 9, 2022
- Sale Price: $92,959,375
- Price/SF: $732
The Gardens at Great Neck was sold by Kabro Associates to Kimco Realty Corp as part of a portfolio sale. This property consists of 126,900 square feet and was built in 1951.
The property has 574 feet of frontage on Great Neck Rd and provides 500 on-site parking spaces. Anchor tenants at this location include Chipotle Mexican Grill, Starbucks, Wells Fargo, TD Bank, and more.
2. Southgate Shopping Center
- Address: 4900-4966 Merrick Rd, Massapequa Park, NY
- Sale Date: November 9, 2022
- Sale Price: $82,578,125
- Price/SF: $682
This retail neighborhood center was sold by Kabro Associates to Kimco Realty Corp. The property was built in 1956 but was renovated in 1977. It consists of about 121,000 square feet and provides 550 on-site parking spaces.
The shopping center boasts anchor tenants such as Chase Bank, King Kullen, Orangetheory Fitness, and the UPS Store.
Exterior of 4900-4966 Merrick Rd, Massapequa Park, NY
3. Green Cove Plaza
- Address: 90 Northern Blvd, Greenvale, NY
- Sale Date: November 9, 2022
- Sale Price: $64,175,000
- Price/SF: $742
Kimco Realty Corp. purchased this 86,400-square-foot retail neighborhood center from Kabro Associates. This shopping center was built in 1961 and has 250 on-site parking spaces for the convenience of its shoppers.
Some of its notable tenants include T.J. Maxx, Verizon Store, Moe’s Southwest Grill, and more.
Exterior of 90 Northern Blvd, Greenvale, NY
4. Smith Grove Shopping Center
- Address: 111-145 Alexander Ave, Lake Grove, NY
- Sale Date: December 21st, 2022
- Sale Price: $42,200,000
- Price/SF: $479
Bregman Construction Corp sold Smith Grove Shopping Center to Piyush Golia Family Trust.
Included in this 3-property portfolio sale are major national retail tenants. These tenants include an Aldi Supermarket and a Panera Bread in the main center, and a Sleep Number mattress store on pad sites.
This sale represents one of the last retail transactions on Long Island. Based on our research the property sold at a 6% cap rate and with a net operating income of $2,530,000.
Aerial View of 111-145 Alexander Ave, Lake Grove, NY
5. Stop & Shop
- Address: 8101 Jericho Tpke, Woodbury, NY
- Sale Date: November 9, 2022
- Sale Price: $34,730,000
- Price/SF: $670
Kabro Associates sold this Stop & Shop supermarket to Kimco Realty as part of a portfolio sale. The supermarket was 100% leased at the time of sale.
This building consists of 55,000 square feet and was built in 1995. The property sits on 234,000 square feet of land.
This Stop & Shop serves as a strong anchor tenant in a busy area of Woodbury. It receives over 37,000 cars daily and is right next to Woodbury Town Plaza and Woodbury Village.
Exterior of 8101 Jericho Tpke, Woodbury, NY
6. East Meadow Plaza
- Address: 1900-1960 Hempstead Tpke, East Meadow, NY
- Sale Date: October 17, 2022
- Sale Price: $30,000,0000
- Price/SF: $118
Russell & Kirk & Wayne Weiss sold this East Meadow Plaza to Regency Centers Corporation. This shopping center was constructed in 1971 but was just renovated in 2022.
East Meadow Plaza contains a 132,000-square-foot retail building, and a five-story 73,000-square-foot office building. At the time of sale, the retail building was 64% occupied while the office building was 51% occupied. There are 450 on-site parking spaces.
Exterior of 1900-1960 Hempstead Tpke, East Meadow, NY
7. Neighborhood Center in Woodbury
- Address: 8285 Jericho Tpke, Woodbury, NY
- Sale Date: November 9, 2022
- Sale Price: $56,389,092
- Price/SF: $598
Kabro Associates sold this neighborhood shopping center to Kimco Realty as part of their portfolio sale. This center consists of 94,200 square feet and was built in 1981. This class B building sits on over 82,000 square feet of land.
Some notable tenants at this location are Dunkin Donuts, a Wine Store, Bank of America, and a Supermarket.
Exterior of 8285 Jericho Tpke, Woodbury, NY
8. Syosset Corners
- Address: 103-129 Jackson Ave, Syosset, NY
- Sale Date: November 9, 2022
- Sale Price: $18,686,250
- Price/SF: $736
Kabro Associates sold Syosset Corners to Kimco Realty as part of a portfolio. This class B retail strip center consists of 25,400 square feet and over 300 feet of frontage on Ira road.
It was built in 1954 and has multiple tenants occupying the spaces, including a Northwell Health Urgent Care Center and Orangetheory Fitness gym. There are 120 on-site parking spaces for the convenience of its shoppers.
This property is located around the corner from the Syosset Long Island Rail Road train station.
Exterior of 103-129 Jackson Ave, Syosset, NY
9. The Marketplace
- Address: 8063 Jericho Tpke, Woodbury, NY
- Sale Date: November 9, 2022
- Sale Price: $14,249,375
- Price/SF: $398
Kabro Associates sold The Marketplace to Kimco Realty as part of their portfolio. The building contains 35,700 square feet of building space and over 138,000 square feet of land.
The property contains multiple tenants including a Party City. Party City currently operates more than 850 stores across the United States. According to recent reports, the retailer has filed for Chapter 11 bankruptcy as part of a $150 million agreement to restructure the business. However, the company has yet to announce any store closings.
Exterior of 8063 Jericho Tpke, Woodbury, NY
10. Chase Bank
- Address: 60 Great Neck Rd, Great Neck, NY
- Sale Date: November 9, 2022
- Sale Price: $14,104,360
- Price/SF: $670
Kabro Associates sold this fully-occupied Chase Bank to Kimco Realty. The bank is 5,200 square feet and was built in 1974. According to the FDIC, this Chase bank branch recorded $378,043,000 in annual deposits.
It is considered to be a Class B building with 25 on-site parking spaces. The bank has 112 feet of frontage on Great Neck Rd.
This Chase Bank is surrounded by other neighborhood retailers such as Chipotle, Planet Fitness, Starbucks, TD Bank, Citi Bank, and more. It is also a short walk from the Great Neck train station.
Exterior of 60 Great Neck Rd, Great Neck, NY
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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.
