Inked: Recent LI real estate deals

Photo of author

By Dan Sears

Listen to this article

36 Lincoln Ave., Rockville Centre

36 Lincoln Ave Group LLC and 36 Lincoln Ave Realty LLC, a group of local commercial real estate investors, purchased a 16,675-square-foot building on .38 acres at 36 Lincoln Ave. in Rockville Centre for $6.3 million. The property is fully occupied by two tenants, Northwell Health’s Orlin & Cohen Orthopedic Group and South Shore Cosmetic Surgeons. The sale price equates to a 6.7 percent cap rate. Jason Miller and Jeffrey Schwartzberg of Premier Commercial Real Estate represented the buyer, as well as the seller, Gold Realty, in the sales transaction.


4830-4848 Sunrise Highway, Sayville

Polke Sunrise Hwy LLC, an affiliate of local real estate investors, purchased the 22,200-square-foot building on 2.12 acres at 4830-4848 Sunrise Highway in Sayville for $5.3 million. Built in 1983, the strip center is fully occupied by nine tenants. The sale price equates to a 6.99 percent cap rate. Luciane Serifovic of Luxian International Realty represented the buyers, while Ron Koenigsberg of American Investment Properties represented the seller, John & Eva Pappas Realty LLC, in the sales transaction.

See also  Google's long-awaited antitrust trial finally set to begin 3 years after landmark suit over search monopoly


1120 Old Country Road, Plainview

The Beantown Companies, a Boston-based property development and management firm, purchased a 12,000-square-foot office building on .45 acres at 1120 Old Country Road in Plainview for $3.85 million. Built in 1964, the three-story building has two floors of offices above three retail stores. The price equates to a projected 8.5 percent cap rate once the property is fully leased. Bradley Diamond of Parallel Realty Group represented the buyer, while the seller, East Meadow-based United Properties Corp., was self-represented in the sales transaction.


2167 Montauk Highway, Montauk

2167 Montauk Holdings LLC purchased the 1,500-square-foot restaurant building on .57 acres at 2167 Montauk Highway in Amagansett for $2.4 million. The Florida home of David J. Miller, a partner in the Manhattan-based investment fund Elliott Management, is listed as the LLC’s registered address. The property, which was the long-time home of the popular Cyril’s Fish House until it closed in 2016, had been occupied by Morty’s Oyster Stand since 2019. Miller, the new owner of the Amagansett property, has yet to announce his plans for the Montauk Highway spot. He also owns the Mavericks Montauk restaurant, which opened in 2022, and he owns residential property in Ditch Plains, according to The New York Times. The Hamptons Commercial Real Estate Team of Compass brokers Hal Zwick and Jeffrey Sztorc represented the buyer, as well as the seller, Jeremy Morton, in the sales transaction.

See also  Former FTX exec rips SBF's 'excessive' spending


41 Hutcheson Place, Lynbrook

RRT Group Inc., an affiliate of Phoenix Medical Equipment, leased 2,031 square feet of industrial space at 41 Hutcheson Place in Lynbrook. Danniel Paggy of Commercial Industrial Hub LLC represented the tenant, while James Parnes and Anthony Filipelli of Schacker Realty represented the landlord, Amerigo Co-Partnership, in the lease transaction.


6037 Jericho Turnpike, Commack

TandyWear, a women’s apparel retailer, leased a 7,444-square-foot building at 6037 Jericho Turnpike in Commack. This is the second location for TandyWear, following the first on Commack Road. Melissa Naeder of Cushman & Wakefield represented the tenant, as well as the landlord, Goldman & Sons Holding Corp., in the lease transaction.


360 E. Jericho Turnpike, Huntington Station

PJCV LLC, an affiliate of Long Island-based commercial real estate investors, purchased a newly developed 3,043-square-foot building on 1.23 acres at 360 E. Jericho Turnpike in Huntington Station for $7.5 million. The property, which also has eight gas pumps, is net-leased to 7-Eleven. The sale price equates to a 4.33 percent cap rate. Dan Abbondandolo of Cushman & Wakefield represented the buyer, as well as the Great Neck-based seller, 360 E. Jericho Corner LLC, in the sales transaction.

See also  Long Island unemployment rate climbs higher again

Rate this post

Leave a Comment