Holtsville industrial property trades for $11.5M | Long Island Business News

An industrial property in Holtsville has sold for $11.5 million. 

905 Waverly Realty LLC, an affiliate of a sporting apparel wholesaler and distributor, purchased the 50,000-square-foot building on 5 acres at 905 Waverly Ave. The deal includes an additional 4.26 acres that can be used for expansion or separate industrial development. 

The property was the long-time home of Weiss Instruments, a manufacturer of temperature and pressure instruments. The 140-year-old company was acquired in March 2022 by Ohio-based Foundation Investment Partners, which combined the Weiss operations with Miljoco Instrument Corporation at its 50,000-square-foot facility in Mt. Clemens, Mich. Weiss closed its Holtsville plant late last year. 

Gary Chimeri and Luciano Oliverio of Paramount Properties Group represented the buyer, as well as the seller, Weiss Realty Associates LLC, in the Holtsville sales transaction. 

“Our approach at Paramount Properties Group was to sell the building and land as a combo but also offer an end user or investor the unique opportunity to peel off the land separately for development purposes,” Chimeri said. “This strategy was successful as it opened up a much larger pool of buyers.” 

Islandia-based attorney Drew Presberg handled the legal representation of the sale for the seller. 

“This was a complicated transaction with a lot of moving pieces, which finally came together with the right purchaser,” Presberg said. “We always try to add value to our real estate clients’ transactions, and this was no exception.” 

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