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Tag: bethpage

  • Inked: Long Island commercial real estate sales and leases in Great Neck, Bethpage, and Bay Shore | Long Island Business News

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    195 Northern Blvd.,

    The Balterman family, local commercial real estate investors, purchased the 4,615-square-foot building on .39 acres at 195 Northern Blvd. In Great Neck for $3.15 million. The vacant property, which has 140 feet of frontage on Northern Boulevard, was formerly occupied by Great Neck Car Buyers & Sellers. The buyer plans on leasing the property to another auto business, according to a broker on the deal. Dan Abbondandolo, Robert Kuppersmith, Joegy Raju and Victor Little of Cushman & Wakefield procured the buyer and represented the seller, Northern Properties Associates LLC, an affiliate of Daniel Scheyer, in the sales transaction. Michael Sahn, of Uniondale-based law firm Sahn Ward Braff Coschignano, served as legal counsel to the seller.

     

    10-12 Railroad Ave.,

    A mixed-use property in Bethpage that’s had the same ownership for nearly three decades has been sold. Pervez Kahn, principal of , purchased the two-story, 6,137-square-foot building on .15 acres at 10-12 Railroad Ave. for $2.1 million. The fully occupied building has nine rental apartments, and a ground-floor commercial space leased to Susan’s Pub, a popular local watering hole. The sale price equates to a 6.1 percent cap rate. Kahn Capital Group, which focuses on the acquisition and long-term ownership of multifamily and mixed-use assets throughout Long Island, plans significant investment in renovations and improvements to the property, according to a broker on the deal. Carle Place-based ERG Commercial Real Estate provided a $1.444 million acquisition loan to Kahn Capital Group for the Bethpage purchase. The buyer was self-represented, while Tom Bigansky of North Village Realty represented the seller, MMC 2 Inc., in the sales transaction.

     

    2233 Nesconset Highway, Lake Grove

    Melinda Cantor Designs Inc., a custom invitations firm, leased 1,000 square feet of office space at 2233 Nesconset Highway in Lake Grove. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, Nico Realty Group LLC, in the lease transaction.

     

    41 Mercedes Way, Edgewood

    , a nutraceuticals firm, leased 30,700 square feet of industrial space at 41 Mercedes Way in Edgewood. Ralph Perna of Schacker Realty represented the tenant, while the landlord Heartland Business Center was self-represented in the lease transaction.

     

    60-70 Cleveland Ave.,

    Haloo USA LLC and Cavapod LLC, affiliates of a printing company, leased 21,696 square feet of industrial space at 60-70 Cleveland Ave. in Bay Shore. Luca Perinuzzi and Ralph Perna of Schacker Realty represented the tenant, as well as the landlord, ZNM Enterprises LLC, in the lease transaction.

     

    94 Gazza Blvd., Farmingdale

    Bethpage Warehouse LLC purchased a 6,000-square-foot industrial building on .14 acres at 94 Gazza Blvd. in Farmingdale for $1.487 million. The property was formerly occupied by Hub Truck Rental. Jordan Cardenas, Jonathan Cardenas and Christopher Cardenas of Tripoint Real Estate represented the buyer, while Stephen Preuss, Andreas Efthymiou and Jack Rovner of RIPCO Real Estate represented the seller, Hub Gazza Corp., in the sales transaction.


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    David Winzelberg

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  • Long-held Bethpage mixed-use asset has changed hands | Long Island Business News

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    A in  that’s had the same ownership for nearly three decades has been sold. 

    Pervez Kahn, principal of , purchased the two-story, 6,137-square-foot building on .15 acres at 10-12 Railroad Ave. for $2.1 million. The fully occupied building has nine rental apartments, and a ground-floor commercial space leased to , a popular local watering hole. 

    The sale price equates to a 6.1 percent cap rate. 

    Kahn Capital Group, which focuses on the acquisition and long-term ownership of multifamily and mixed-use assets throughout Long Island, plans significant investment in renovations and improvements to the property, according to a broker on the deal. 

    Carle Place-based ERG  provided a $1.444 million acquisition loan to Kahn Capital Group for the Bethpage purchase. 

    “The owner’s goal was to purchase the property with good leverage to then invest back into the property to add value,” ERG’s Ryan Lewis announced on Instagram. “We were able to arrange a five-year fixed traditional mortgage with an interest only component for the first year which would then convert to an amortizing loan for the remaining years. We were also able to arrange that for the first year the borrower would have the option to cash out/refinance without penalty after adding value to recapitalize his investment further accomplishing the borrower’s goals.” 

    The buyer was self-represented, while Tom Bigansky of North Village Realty represented the seller, MMC 2 Inc., in the sales transaction. 

    “Demand for mixed-use assets with durable residential income remains extremely strong,” Bigansky of North Village Realty told LIBN. “This transaction reflects both the depth of qualified buyers in the market and the appetite for properties that offer long-term upside through strategic capital investment. Executing an accepted offer within 30 days—while generating many qualified backup offers—is a clear indication of how competitive this segment remains and the depth of investor demand for well-located mixed-use properties.” 


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    David Winzelberg

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  • Oyster Bay approves scaled-back Bethpage mosque plan | Long Island Business News

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    THE BLUEPRINT:

    • approves mosque limited to 9,950 sq. ft. and 295 occupants

    • Agreement reached with Muslims on Long Island () before federal trial

    • MOLI to fund crossing guard, traffic signal and other safety upgrades

    • Prior settlement had collapsed

    The Town of Oyster Bay authorized a settlement on Tuesday evening with Muslims on Long Island (MOLI) to allow a reduced expansion of the mosque at the intersection of Stewart and Central avenues in .

    As part of the agreement, the mosque’s size will be restricted to 9,950 square feet at or above ground level, with a self-imposed maximum occupancy of 295 individuals — a reduction from the 464 people permitted in an earlier proposal, the town confirmed. The smaller building allows for more on-site parking, and there is a discussion regarding a nearby property that could be used for additional parking spaces.

    The settlement was reached as the case approached federal court, following the breakdown of a previous agreement between the two parties regarding the mosque’s expansion plans.

    “I see that we have been able to achieve what the community has asked for what we believe creates a safer situation,” Oyster Bay Town Supervisor Joseph Saladino said at the town board meeting on Tuesday.

    MOLI will fund a crossing guard for 18 months after receiving a certificate of occupancy and collaborate with the town on an improved crosswalk, a traffic warning signal and other safety upgrades.

    The two parties were set to begin a federal trial on Monday but had engaged in mediation to resolve the dispute and avoid further costly litigation. The trial was to take place after a proposed settlement between the two parties collapsed in late August.

    Earlier that month, the town had reached a $3.95 million settlement with MOLI, agreeing to approve its plans for a new mosque on the site of an existing house of worship in Bethpage and resolving an existing lawsuit over the project. The town was also to repeal a 2022 law that required significantly more parking from new places of worship. Under the earlier settlement agreement, MOLI could demolish the two current buildings on the property and build a single new structure with on-site parking and design elements that were aimed at mitigating the town’s traffic and safety concerns in the surrounding area.

    A “Stop the Mosque” petition on change.org has garnered 2,055 verified signatures urging the town board to vote against the mosque, saying the location “is not a place to add congestion.” But over the summer, statements on the petition web page brought “a flood of racist commentary online,” stripping away “any pretense that this dispute was about parking or traffic,” according to a court filing.

    The town had maintained at the time that it withdrew from that earlier settlement because of concerns about and parking. A town attorney has said that the intersection of Stewart and Central avenues sees more than 4,775 red light violations each year.

    At Tuesday night’s hearing, the public was provided with an opportunity to provide comment about the resolution, though no one stepped forward.

    The town board approved the settlement resolution with a 6-1 vote, with Councilman Lou Imbroto casting the only dissenting vote.


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    Adina Genn

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  • Inked: Long Island commercial real estate leases & sales roundup | Long Island Business News

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    96 Commercial St.,

    Ambulnz NY, a division of DocGo and provider of mobile medical services and medical transportation, leased a 10,200-square-foot industrial building on .42 acres at 96 Commercial St. in Freeport. Avi Garma of MAG Realty Associates represented the tenant, while Mario Asaro and Dillan Morris-Timoney of Industry One Realty represented the landlord, Ferrucci Real Estate LLC, in the lease transaction.

     

    150 Main St.,

    Ruggerio Properties purchased the two-story, 10,734-square-foot mixed-use building on .36 acres at 150 Main St. in Huntington for $1.5 million. The building has five apartments over the ground-floor office space. The buyer plans to renovate the property. The property occupies the site of Huntington’s first church built in 1665.  After a new church was built further east on Main Street in 1715, the first church building was sold in 1717 for 5.1 pounds or a little less than $7 U.S., according to the Marker Database. Frank Mannino of Berkshire Hathaway Commercial Services represented the buyer, while his Berkshire Hathaway Commercial Services colleague Steven Bootz represented the sellers, Dr. Harold German and June German, in the sales transaction.

     

    999 South Oyster Bay Road,

    Yorkshire Food Sales Corp., a distributor of snack products, leased 33,325 square feet of industrial space at 999 South Oyster Bay Road in Bethpage. The New Hyde Park-based company, which dates back to the 1940s, distributes snack products of several major manufacturers, including Wise, Archway, Deep River, Trophy Nut and many others. Jason Miller and Jeffrey Schwartzberg of Premier Commercial Real Estate represented the tenant, as well as the landlord, Nassau Steel LLC, in the lease transaction.

     

    81 Modular Drive,

    Gemini Pharmaceuticals Inc. leased a 30,444-square-foot industrial building on 1.64 acres at 81 Modular Drive in Commack. Gemini, which is expanding its operations, has its corporate headquarters next door at 87 Modular Drive. The company also has locations at 65 Mall Drive in Commack and at 55 Adams Ave. in Hauppauge. Gemini, a 43-year-old family-owned manufacturer of over-the-counter pharmaceutical, nutraceutical and animal products, recently received economic incentives from the Industrial Development Agency for $13.9 million in infrastructure improvements and upgrades to expand its operations. Richard Cohen of Ashlind Properties represented Gemini, while Jason Miller and Jeffrey Schwartzberg of Premier Commercial Real Estate represented the landlord, BP81 Enterprises LLC, in the lease transaction.

     

    901 S. Second St.,

    Spanos Painting Corp., a commercial painting company, leased 4,000 square feet of industrial space at 901 S. Second St. in Ronkonkoma. The company is relocating from Holbrook. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, 901 LLC, in the lease transaction.


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    David Winzelberg

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  • Town of Oyster Bay settlement over mosque in Bethpage collapses | Long Island Business News

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    THE BLUEPRINT:

    • $3.95 million settlement between Town of and collapsed

    • Town cited traffic safety, parking concerns for withdrawing approval

    • MOLI cited Anti-Muslim opposition and a petition influenced town’s decision

    • MOLI asks court to maintain trial original trial date, Oct. 27

    A proposed settlement between the Town of Oyster Bay and Muslims on Long Island (MOLI), over a tied to plans for the in , has collapsed.

    Earlier this month, the town had reached a $3.95 million settlement with MOLI, agreeing to approve its plans for a new mosque on the site of an existing house of worship at Stewart and Central avenues in Bethpage and resolving a lawsuit over the project.

    Under the settlement agreement, MOLI could demolish the two current buildings on the property and build a single new structure with on-site parking and design elements that were aimed at mitigating the town’s traffic and safety concerns in the surrounding area. The $3.95 million settlement was to reimburse MOLI for legal fees and associated expenses. The town was also to repeal a 2022 law that required significantly more parking from new places of worship.

    Thursday marked the deadline for the town to approve the proposed settlement for it to move forward.

    Yet on Thursday, attorneys on behalf of MOLI, in a federal court filing, said that the town “repudiated its own agreement,” adding that the town was faced “with a fresh wave of anti-Muslim agitation from local residents.”

    “All we want is the chance to worship in peace, like every other faith community in this country,” Imran Makda, a plaintiff, said in a written statement. “We believed the town when it signed the settlement, and we are devastated that the town leaders gave in to hate instead of honoring their word.”

    A “Stop the Mosque” petition on change.org had garnered 1,878 verified signatures urging the town board to vote against the mosque, saying the location “is not a place to add congestion.” But statements on the petition brought “a flood of racist commentary online,” stripping away “any pretense that this dispute was about parking or traffic,” according to the court filing.

    “Upon further analysis and legal guidance, the town board has chosen to defend its zoning authority and withdraw from the proposed settlement agreement,” Frank Scalera, the town’s attorney, said in a written statement.

    “This case between the Town of Oyster Bay and MOLI centers on traffic safety and parking — not religion,” Scalera said. “The facts are clear: high accident rates at the intersection are concerning, and more than 4,775 red light violations are issued here annually.”

    The federal lawsuit was filed in January in U.S. District Court for the Eastern District of New York by MOLI. In the lawsuit, MOLI claimed that the mosque project had been opposed by town officials and some community members. The town maintained it had planning concerns.

    In July, the mosque’s attorneys said that the town referenced testimony from a “grandmother” that they argued did not exist and was included solely to strengthen the planning board’s denial. The town later confirmed the grandmother is Nassau Legis. Rose Marie Walker.

    In January, Walker told LIBN that “Masjid Al-Baqi mosque has been a wonderful part of the community and excellent neighbors. The expansion plan, however, does not account for the significant need for additional parking and impacts to traffic on the surrounding roadways. I am hopeful that Masjid Al-Baqi will be amenable to working with the local municipality to reach a compromise or to identify an alternate location in the Bethpage community that would allow for continued growth.”

    Scalera said that the town board “will not compromise when it comes to protecting everyone in the public, nor will they accept development plans that fail to adequately address these serious concerns.”

    Now MOLI is requesting that the Oct. 27 trial date that was established before the settlement agreement would remain.

    “We have lived in Oyster Bay for decades as good neighbors,” Moeen Qureshi, a plaintiff, said in a written statement.  “This mosque is not just a building—it is a home for our children.  The Town’s refusal to keep its promise is painful, but it only strengthens our resolve to see this through at trial.”

    The trial, MOLI’s attorneys said in the court filing, is the “only path forward.”

    “The town signed an agreement that was filed in federal court, and then—under pressure from bigoted voices—refused even to bring it to a vote,” Muhammad Faridi, an attorney representing MOLI, said in a written statement.

    “By walking away from a signed settlement, town officials have all but guaranteed that their insurers will deny coverage,” Faridi said. “That means it won’t be the insurers paying for this discrimination—it will be the taxpayers of Oyster Bay, who now stand to pay millions more so that elected officials can protect their own political futures.”

     


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    Adina Genn

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  • Priciest home sales in Bethpage | Long Island Business News

    Priciest home sales in Bethpage | Long Island Business News

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    Priciest home sales in Mastic

    The three highest-priced home sales in Mastic last month ranged from $564,000 to $620,000. 

    December 26, 2023

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    David Winzelberg

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  • Priciest home sales in Bethpage | Long Island Business News

    Priciest home sales in Bethpage | Long Island Business News

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    Priciest home sales in Manorville

    The three highest-priced home sales in Manorville last month ranged from $760,000 to $800,000. 

    July 24, 2023

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    David Winzelberg

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  • Priciest home sales in Bethpage | Long Island Business News

    Priciest home sales in Bethpage | Long Island Business News

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    The three highest-priced home sales in Bethpage last month ranged from $735,000 to $1.04 million. 

    The post Priciest home sales in Bethpage appeared first on Long Island Business News.

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    David Winzelberg

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