An office property in Valley Stream has sold for $1.9 million.
Hi Jong Lee, a Valley Stream-based real estate investor, purchased the 7,308-square-foot building on .22 acres at 550 W. Merrick Road.
The building is 75 percent occupied with a mix of traditional office and medical office tenants, including the Prince Center for the Visually Impaired. The Prince Center provides services for pre/post-surgery clients from eye-care facilities, stroke rehab facilities, hospitals, nursing homes, assisted living facilities, school districts, VA facilities and people with independent with multiple eye conditions.
The sale price equates to a 5.32 percent cap rate.
Dawn Jones of Top Rated Realty represented the buyer, while Dawn Assael Gingold of American Investment Properties represented the Mineola-based seller, Key Realty LLC, in the sales transaction.
David Winzelberg
Source link
