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An industrial property on Sunrise Highway sold for $2.85 million and will be redeveloped as an auto parts warehouse by a Long Island buyer.
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David Winzelberg
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Tag: long island commercial real estate
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Industrial property on Sunrise Highway sells for $2.85M | Long Island Business News
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Law firm acquires Baldwin office property | Long Island Business News
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JAG Law Group acquired a former Bank of America office building in Baldwin for $2.48M, planning renovations and leasing second-floor space.
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David Winzelberg
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Holbrook office property by MacArthur Airport sells for $13M | Long Island Business News
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A Holbrook office property across from MacArthur Airport has sold for $13 million.
MDJ Realty Services, an entity owned and controlled by Michael Broxmeyer and his brother Daniel Broxmeyer, purchased the four-story 145,000-square-foot building on 6 acres at 4250 Veterans Memorial Highway.
The office building, located at the corner of Veterans Memorial Highway and Johnson Avenue and known as MacArthur Plaza, is 78 percent occupied. The sale price equates to $89 a square foot an in-place cap rate of about 12 percent.
Though the Broxmeyers are also top executives with Melville-based Fairfield Properties, the Holbrook deal has nothing to do with Fairfield, and the property will be owned and managed by MDJ.
Financing for the acquisition was provided by Joseph Fingerman at Peapack Private Bank & Trust.
The buyer MDJ Realty Services was self-represented, while Dan Abbondandolo, Joegy Raju and Victor Little of Cushman & Wakefield‘s Long Island Investment Sales and Capital Markets team were assisted by C&W’s David Pennetta and Steve Cadorette in representing the seller, CAF Vets LLC, in the Holbrook sales transaction.
“This transaction underscores continued confidence in well-located suburban office assets, as investors continue to concentrate capital in markets where infrastructure spending, zoning flexibility, and demographic trends are converging to drive long-term value,” Abbondandolo told LIBN. “While the broader office market remains selective, data continues to point to stronger occupancy, more consistent leasing activity, and tighter pricing in high-performing suburban submarkets. With prudent capital allocation, MacArthur Plaza offers both stability today and meaningful upside over the long term.”
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David Winzelberg
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Inked: Long Island commercial leases, sales highlight active market | Long Island Business News
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365 Oser Ave., Hauppauge
Boduo International Trade LLC, a bubble tea ingredients supplier, leased 20,000 square feet at 365 Oser Ave. in Hauppauge. The company is relocating from its current facility in Farmingdale. Desmond Mullins of Premier Commercial Real Estate represented the tenant, as well as the landlord, Heartland Associates, in the lease transaction.
500 Montauk Highway, West Islip
Allied Physicians Group, PLLC, a pediatric practice group, leased a 2,535-square-foot medical suite at 500 Montauk Highway in West Islip. Michael Aievoli of JLL represented the tenant, while Jamie Winkler of Winkler Real Estate represented the landlord, Fairfield Realty Corp., in the lease transaction.
155 Main St., Northport
Nico Negron of Apollo Tattoo leased 1,207-square-feet of office space at 155 Main St. in Northport. Negron relocated the studio from 7 Green St. in Huntington. Jamie Winkler of Winkler Real Estate represented the tenant, while Susan Modelewski of Signature Premier Properties, represented the landlord, 155 Northport LLC, in the lease transaction.
25 Ranick Road, Hauppauge
Cavapod LLC leased 21,690 square feet of industrial space at 25 Ranick Road in Hauppauge. Ralph Perna and Luca Perinuzzi of Schacker Realty represented the tenant, as well as the landlord, B&S Management Consultant, in the lease transaction.
1966 Broadhollow Road, Farmingdale
G7 Stone LLC, a marble and stone supplier, leased 28,485 square feet of industrial space at 1966 Broadhollow Road in Farmingdale. Zou Fenger of E-Realty International represented the tenant, while Jeffrey Starr of Schacker Realty represented the landlord, KLS Holding, in the lease transaction.
252 N. Main St., Freeport
252 Main Street Realty LLC, an affiliate of an existing auto repair business, purchased a 1,204-square-foot building on .19 acres at 252 N. Main St. in Freeport for $750,000. Jesse Jimenez of Primal Property Group represented the buyer, while Carolyn Campbell-Gould of Douglas Elliman Real Estate represented the seller, Joyce Allen, in the sales transaction.
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David Winzelberg
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Inked: Long Island commercial real estate leases and sales roundup | Long Island Business News
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66 S. 2nd St., Deer Park
Flex Fights Inc., a promoter of mixed-martial arts events, leased 3,600 square feet of industrial space at 66 S. 2nd St. in Deer Park. The company is expanding and relocating from leased space nearby. Bob Desmond of Industry One Realty represented the tenant, while the landlord, Corbin Development Corp., was self-represented in the lease transaction.
285 Middle Country Road, Selden
Tim Horton’s leased a 2,400-square-foot retail space in the Selden Plaza shopping center at 285 Middle Country Road in Selden. The space was formerly occupied by 1-800-Flowers. Nick Masson of The Shopping Center Group represented the tenant, while Greg Batista of RIPCO Real Estate represented the landlord, Miller Realty Associates, in the lease transaction.
750 Blue Point Road, Holtsville
Sensaras LLC, a manufacturer of ultrasonic liquid-level sensor systems, purchased the 15,000-square-foot industrial building on 2.03 acres at 750 Blue Point Road in Holtsville for $3.8 million. The company also owns a building on Smithtown Avenue in Bohemia. Mark Pawlitscheck of Compass Commercial represented the buyer, while Jeremy Hackett of Metro Realty Services represented the seller, NEPS Property Inc., in the sales transaction.
636 Hempstead Turnpike, Franklin Square
636 HT LLC, an affiliate of Auto Body With Modern and Classic Performance and Customization, purchased the 8,388-square-foot retail property on .20 acres at 636 Hempstead Turnpike in Franklin Square for $2 million. The property was formerly occupied by Movin’ On Sounds. Michael DiBella of Pliskin Realty represented the buyer, while Jason Merrell, Robert Monahan and Roger Delisle of Island Associates represented the seller, New Hyde Park Fruit Corp., in the sales transaction.
701-5 Koehler Ave., Ronkonkoma
Seckin Digital Printing, a commercial printing company, leased 2,500 square feet of industrial space at 701-5 Koehler Ave. in Ronkonkoma. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, 701-5 Koehler LLC, in the lease transaction.
190 McCormick Drive, Bohemia
MFLH Roebling LLC leased a 9,000-square-foot industrial building on .69 acres at 190 McCormick Drive in Bohemia. Nicholas Romano of Metro Realty Services represented the tenant, as well as the landlord, Robert Birnbaum, in the lease transaction.
740 Blue Point Road, Holtsville
Coco Architectural Grilles & Metalcraft, a manufacturer of custom metalwork, purchased the 16,000-square-foot building on 2.24 acres at 740 Blue Point Road for $3.95 million. The property was formerly occupied by a perfume packaging firm. Coco is expanding and relocating from leased space on Allen Boulevard in East Farmingdale after the company outgrew that space and was assisted in the move by the Brookhaven Industrial Development Agency. Founded in Manhattan in the early 1900s, Coco specializes in custom metalwork for the HVAC industry and also performs laser cutting, die casting, welding, and finishing of aluminum, brass, bronze, stainless steel, and steel.
Andrew Blumenthal and Mark Timpone of Metro Realty Services represented the buyer, 240 Blue Point Realty LLC, while their Metro Realty Services colleague Nicholas Romano represented the seller, 740 Realty Corp, in the sales transaction.
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David Winzelberg
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Faropoint buys Deer Park industrial property for $7.55M | Long Island Business News
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An industrial property in Deer Park has a new owner.
Hoboken, N.J.-based Faropoint purchased the fully occupied 40,000-square-foot building on 2.22 acres at 593 Acorn St. in Deer Park for $7.55 million.
The sale price equates to a 5.5 percent cap rate.
The Acorn Street property is occupied by Apogee Lighting, a lighting systems manufacturer, which will remain operating there. Apogee, which uses recycled materials in its manufacturing, specializes in energy-efficient lighting for commercial and public applications.
Apogee created the interior lighting structure above the main escalators at 7th Avenue at 32nd Street at Penn Station’s redesigned entrance, constructing the triangular array hanging from the ceiling. Other Apogee flagship jobs include lighting systems for the World Trade Center, Citigroup, One Vanderbilt, LIRR Third Track, many boardrooms around the country and several transit systems.
Founded in 2012, Faropoint is a commercial real estate investment firm that focuses on last-mile warehousing and distribution facilities. The company’s portfolio has more than 500 properties totaling over 26 million square feet throughout the U.S.
The Acorn Street property is Faropoint’s seventh acquisition on Long Island and second in Deer Park. The company purchased a 40,000-square-foot building at 105 E. Jefryn Blvd. for $8 million last year. Its other Long Island assets are in Bohemia, Farmingdale, Hauppauge and Bohemia.
“We’re thrilled to have completed this transaction at 593 Acorn Street in Deer Park,” Matthew Bernstein, Faropoint’s senior associate for acquisitions, told LIBN. “This property offers the ideal combination of location and functionality that aligns perfectly with the current demands of the Long Island industrial market. Apogee Lighting’s long-term commitment demonstrates the strength of this submarket and the quality of the asset.”
Faropoint was self-represented, while Bob Desmond of Industry One Realty represented the seller, Richard Nicolai, in the Deer Park sales transaction.
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David Winzelberg
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Inked: Long Island commercial real estate leases & sales roundup | Long Island Business News
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96 Commercial St., Freeport
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., Huntington
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 Historical 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, Bethpage
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, Commack
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 health products, recently received economic incentives from the Suffolk County 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., Ronkonkoma
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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