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A three-building office portfolio in Manhasset has sold for $3.9 million.
Mark Udell, the owner of London Jewelers, purchased the three buildings that total 11,900 square feet, as well as a 5,000-square-foot parking lot.
The properties in the portfolio include a two-story, 7,000-square-foot office building at 47 Hillside Ave.; a 4,000-square-foot office building at 57 Hillside Ave.; and a 900-square-foot office building at 28 Locust St.
The building at 57 Hillside Ave. is fully occupied by three tenants and 28 Locust St. is occupied by a single tenant.
The second floor of the building at 47 Hillside Ave. is occupied, and the currently vacant first floor will be used by London Jewelers for its jewelry repair operations, according to a broker on the deal.
Kyle Crennan, Joe Lopresti and Brian Weigold of JLL represented the buyer, as well as the sellers, MAG Hillside LLC, RJG Hillside LLC, JVG Hillside LLC and DAG Hillside LLC, in the sales transaction.
“We are pleased to have successfully completed the sale of the Manhasset office portfolio to Mark Udell, who recognized the unique opportunity to acquire income producing assets with space available for his own business operations,” Crennan, managing director at JLL, told LIBN. “The portfolio’s prime location just one block from the Manhasset LIRR station and proximity to the Americana Manhasset made this a rare acquisition opportunity.”
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David Winzelberg
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