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Tag: long island real estate

  • Inked: Long Island commercial property sales and leases | Long Island Business News

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    208-210 S. Fehr Way,

    Integrated Tech Labs purchased a 13,500-square-foot industrial building on .75 acres at 208-210 S. Fehr Way in Bay Shore for $2.9 million. Integrated Tech, which provides engineering solutions and testing services to the military, aerospace and other sectors, is relocating from Deer Park. Alberto Fiorini and Niko Khetaguri of Alliance Real Estate represented the buyer, while Frank Posillico of Fra-Nic Realty represented the seller, James Mitchel Properties, in the sales transaction.

     

    210 E. Sunrise Highway, Lynbrook

    Clear Freight, a logistics company, subleased 7,000 square feet of office space at 210 E. Sunrise Highway in Lynbrook. The firm is relocating from Inwood. Clear Freight’s three-year sublease was extended seven more years with a direct lease with the Lynbrook property’s landlord. Daniel Gazzola and Daniel Oliver of Newmark represented Clear Freight and the landlord, Three Brothers Properties, while Ralph Giuffre of CBRE represented the main tenant, Seko Worldwide, in the sublease transaction.

     

    79 Cedarhurst Ave.,

    One Stop Metro LLC & QAPLA Holdings LLC purchased a 6,000-square-foot industrial building on 1.19 acres at 79 Cedarhurst Ave. in Medford for $1.9 million. Mark Timpone of Metro Realty Services represented the buyer, while Jeremy Hackett of Metro Realty Services represented the seller, 79 Cedarhurst Ave LLC, in the sales transaction.

     

    3165 Route 112, Medford

    Jallall Jagmohan Family Trust purchased a 6,000-square-foot building on 1.4 acres at 3165 Route 112 in Medford for $1.5 million. Michael Gronenthal of Douglas Elliman Commercial represented the buyer, while Michael Murphy and Dennis Gandley of Douglas Elliman Commercial represented the seller, Stacey Kjaer, in the sales transaction.

     

    39 Maple Place, Amityville

    39 Maple Place LLC purchased a 4,400-square-foot industrial building on .21 acres at 39 Maple Place in Amityville for $1.2 million. Michael Pisciotta of Metro Realty Services represented the buyer, while Rosemarie Bozza of Above Board Realty represented the seller, Sumpkin Family Trust, in the sales transaction.

     

    36 Syvester St.,

    Kashif Naseem purchased a 12,333-square-foot industrial building on .46 acres at 36 Syvester St. in Westbury for $2.8 million. Mark Timpone and Andrew Blumenthal of Metro Realty Services represented the buyer, as well as the seller, Grand Machinery, in the sales transaction.

     

    3648 Long Beach Road,

    Rookies Fitness LLC leased a 4,000-square-foot retail space at 3648 Long Beach Road in Oceanside. Christopher Pesce and Kenneth Hester of Douglas Elliman Commercial represented the tenant, as well as the landlord, 3644 Long Beach Rd LLC, in the lease transaction.


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    David Winzelberg

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  • Higher-priced properties dominate Q3 Hamptons home sales | Long Island Business News

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    THE BLUEPRINT:

    • Hamptons home sales above $5 million were the second highest on record in Q3.

    • Median Hamptons home price rose 29% year-over-year to $2.1 million.

    • Top 10% of sales saw prices surge to a $10 million median, up 17%.

    • North Fork listings dropped 45.6%, signaling tightening inventory.

     

    The number of Hamptons home sales above $5 million was the second highest on record in the third quarter. 

    That’s according to the latest report from Real Estate and Real Estate Appraisers and Consultants, which also showed that the median and average Hamptons home sale prices in the third quarter were the second highest ever. 

    The median price of closed single-family home sales in the Hamptons in Q3 was $2.1 million, more than 29% higher than the $1.625 million median price recorded in Q3 2024. The average price of closed Hamptons single-family home sales was $3.6 million in the third quarter, up 33.5% from the $2.7 million average price of a year ago. 

    For the top 10% of sales, the median price of closed Hamptons home sales reached $10 million, 17% more than the $8.55 million median price of a year ago. The average price for the top 10% of Hamptons home sales was $14.437 million in Q3, an increase of 51% from the Q3 2024 average of $9.562 million. 

    The overall number of Hamptons home sales also increased from last year, with 421 sales in the third quarter, 7% more than the 393 home sales that closed in Q3 2024. 

    Listing inventory in the Hamptons fell slightly, dropping from 1,267 in Q3 2024 to 1,256 in the third quarter this year, the first year-over-year decline for the first time in three years. 

    On the North Fork, the number of home sales between $1 million and $2 million in the third quarter was the second highest on record. The median price of closed single-family home sales on the North Fork was $1.05 million, a decrease of 4.5% from the median price of $1.1 million recorded in Q3 2024. 

    Prices in the top 10% of the North Fork market in the third quarter also dropped from a year ago. The median price of closed sales on the high end was $3 million in Q3, down 25.5% from the $4.025 median price in Q3 2024. 

    Sales on the North Fork fell slightly in the third quarter. There were 125 closed North Fork home sales, a tick lower than the 127 home sales in Q3 2024. 

    North Fork inventory dropped significantly in the third quarter. There were 142 North Fork listings in the third quarter, down 45.6% from the 261 listings in Q3 2024. 


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    David Winzelberg

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  • Inked: Long Island commercial real estate deals and leases | Long Island Business News

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    21 Peachtree Court,

    Shield Pharmaceuticals Corp. leased 10,000 square feet of industrial space at 21 Peachtree Court in Holbrook. The Ronkonkoma-based company manufactures and distributes a wide range of store-brand over-the-counter products. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, 21 Peachtree LLC, in the lease transaction.

     

    1817 and 1819 Ave., Deer Park

    Kirk Milan, a Dix Hills-based commercial real estate investor, purchased two mixed-use buildings totaling 6,141 square feet on .18 acres at 1817 and 1819 Deer Park Ave. in Deer Park for $1.5 million. The building at 1817 Deer Park Ave. has four apartments over a store and the building at 1819 Deer Park Ave. has two apartments over ground-floor office space. Both properties are fully occupied. The sale price equates to a 7.52 percent cap rate. Dawn Gingold of American Investment Properties represented the buyer, while Ron Koenigsberg of American Investment Properties represented the seller, DPA Holdings LLC, in the sales transaction.

     

    129 Walt Whitman Road,

    L’Elite Medispa purchased a 2,500-square-foot retail building on .14 acres at 129 Walt Whitman Road in Huntington Station for $1.3 million. The property was formerly occupied by a lighting showroom. L’Elite Medispa is a provider of integrated and wellness services. Jayne Moore of Listing Pro Realty Services represented the buyer, while Scott Harz of Alliance Real Estate represented the sellers, Michael and Elizabeth Bibla, in the sales transaction.

     

    33-35 Sylvester St.,

    Westbury Sylvester Management LLC purchased a 12,508-square-foot industrial building on .52 acres at 33-35 Sylvester St. in Westbury for $3.18 million. The property was formerly owned and occupied by Arkwin Industries, which has another location in Bethpage. Michael Gronenthal of Douglas Elliman Commercial represented the buyer, while Matt Manoogian of CBRE represented the seller, Arkwin Industries Inc., in the sales transaction.

     

    675 Old Country Road, Westbury

    The law firm of Choudry & Franzoni PLLC purchased a 6,768-square-foot office building on .66 acres at 675 Old Country Road in Westbury for $2.3 million. The property was formerly owned and occupied by Pryor & Mandelup LLP. Michael Murphy and Michael Gronenthal of Douglas Elliman Commercial represented the buyer, as well as the sellers, Robert Pryor and Scott Mandelup, in the sales transaction.

     

    2373 Hempstead Turnpike,

    SL54 East Meadow LLC, a Pilates studio, leased 4,000 square feet of retail space at 2373 Hempstead Turnpike in East Meadow. Chris Pesce and Kenneth Hester of Douglas Elliman Commercial represented the tenant, as well as the landlord, Harlington Realty Co. as agent for Picadilly Properties LLC, in the lease transaction.


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    David Winzelberg

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  • Two Long Island hamlets among the top 5 priciest U.S. zip codes | Long Island Business News

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    The continued to dominate Long Island’s presence on the annual list of the 100  in the U.S. 

    Nine of the 11 Long Island locales that made the top 100 list are on the East End, with grabbing the third spot and at number five. Last year, Sagaponack was second and Water Mill was third. 

    Here are the Long Island zip codes and their median home sale prices on the 2025 top 100 list from .com: 

    #3 Sagaponack, $5.925 million  

    #5 Water Mill, $5.5 million  

    #12 Wainscott, $4.5 million  

    #36 Amagansett, $2.998 million 

    #39 Bridgehampton, $2.875 million  

    #40 Old Westbury, $2.864 million  

    #46 Quogue, $2.723 million 

    #85 Fishers Island, $2.213 million 

    #90 Sag Harbor, $2.185 million 

    #91 Southampton, $2.175 million 

    #99 Manhasset, $2.05 million 

    The top spot went to Fisher Island in Miami Beach with a median of $9.5 million, which knocked Atherton, Calif. ($8.333 million) to number two. 

    California again ruled the top of the priciest zip codes list with eight in the top 10. After Atherton, Newport Beach, Calif. had three zip codes in the top 10, with ($5.72 million) at #4, ($5.188 million) at #8 and ($5.1 million) tied with Los Altos, Calif. for #9; Santa Barbara, Calif. ($5.24 million) was #6; and Rancho Santa Fe, Calif. ($4.995 million) at #10. 

    This year, $2 million was the minimum to make the top 100, while five years ago, fewer than 50 of the most exclusive zip codes had reached that mark. For the first time, 10 zip codes had median sale prices of over $5 million.  

    To determine the most expensive zip codes in the U.S., Property Shark looked at residential transactions closed between Jan. 1, 2025, and Sept. 30, 2025, including condos; co-ops; and single- and two-family homes. Median sale prices were rounded to the nearest $1,000.   

    Only zip codes that registered a minimum of five residential transactions were considered. 


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    David Winzelberg

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  • Webster Bank to open new branch in Port Jefferson Station | Long Island Business News

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    Cornerstone Kings Park breaking ground near LIRR station 

    New $22.5M transit-oriented apartment project, Cornerstone Kings Park, breaks ground with 46 units, amenities,[…]

    October 6, 2025

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    David Winzelberg

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  • Former RXR exec Michael O’Leary joins Tritec as CFO | Long Island Business News

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    , a former executive with , has joined as its chief financial officer. 

    O’Leary spent 18 years with Uniondale-based RXR, eventually serving as executive vice president and CFO. He helped boost RXR from a $2 billion company with a staff of 80 to a $20 billion business with more than 500 employees, according to a Tritec statement. Appointed as RXR’s CFO in 2020, O’Leary directed financial management, strategic planning and investor relations, establishing the company’s Fund Portfolio Management and leading teams in capital markets, accounting and long-term strategic initiatives. 

    A certified public accountant and member of the American Institute of Certified Public Accountants, O’Leary began his career in the Real Estate Group at Ernst & Young, managing integrated audit engagements for real estate, construction and hospitality companies. At Ronkonkoma-based Tritec, O’Leary will oversee the company’s , planning and operations. 

    “We are thrilled to welcome Michael O’Leary to the Tritec family,” company co-founders and principals Bob Coughlan and Jim Coughlan said in the statement. “His expertise, vision, and proven leadership in guiding companies through growth and transformation will be invaluable as we continue to expand our portfolio and strengthen our position as a leader in real estate development. Michael’s addition reflects our commitment to building a team that can deliver on our mission of creating vibrant, lasting communities.” 

    O’Leary, who holds a Bachelor of Science in Accounting from the State University of New York at Albany and an MBA from Columbia Business School, says he is excited to join Tritec. 

    “Tritec has an extraordinary legacy of building communities and creating value,” O’Leary said in the statement. “I’m honored to join Tritec at this exciting moment in its growth. I look forward to leveraging my experience to help scale the company’s financial infrastructure and support its long-term vision.” 


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    David Winzelberg

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  • Suffolk OTB expands and relocates in Hauppauge | Long Island Business News

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    Suffolk Regional Off-Track Betting Corporation has a new headquarters. 

    is relocating 90 to 100 of its employees to its new property at 1180 in Hauppauge. 

    The three-story, 37,113-square-foot office building on 2.19 acres was purchased by Suffolk OTB for $6.5 million in Feb. 2022. 

    The property was formerly occupied by the Internal Revenue Service, which moved its personnel to the IRS offices at 5000 Corporate Court in Holtsville. The new headquarters represents an expansion for OTB, as its leased office space on Oser Avenue, where most of its staff is relocating from, is about one-third the size. 

    “While our Suffolk OTB staff had historically been dispersed over multiple buildings in the county, this new corporate headquarters will make our company much more efficient by housing everyone under one roof,” Phil Boyle, Suffolk OTB’s president and CEO, told LIBN. “We are also fortunate that the building is located within minutes of our primary asset, Hotel.” 

    As OTB staff continues to move over to the new , the $210 million expansion and renovation project at Jake’s 58 continues in Islandia. Construction on the new three-and-a-half level, 168,000-square-foot parking garage has been completed and the casino’s new 110,500-square-foot building that will house an additional 1,000 video gaming machines is expected to be finished next summer. 

    The renovations at Jake’s 58 hotel, which include a new 17,500-square-foot VIP lounge and entertainment area, a 3,500-square-foot space for weddings, parties and corporate , a “high-end” restaurant, and renovations to the existing casino, third floor offices and the hotel’s 210 guest rooms, will get underway once the new building opens. 

    John LaRuffa, Nicholas Gallipoli and Frank Frizalone of Cushman & Wakefield brokered the deal and represented the seller, VMH Realty LLC, in the Hauppauge sales transaction.   


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    David Winzelberg

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  • Inked: Long Island retail and industrial real estate deals | Long Island Business News

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    2982 Veterans Memorial Highway, Bohemia

    Riders Choice Supply Limited, which also does business as Riders Choice Saddlery, leased a 1,225-square-foot space at 2982 Veterans Memorial Highway in Bohemia. The new owner of the business, Jaclyn Vecchione, relocated the company from 3333 Veterans Memorial Highway in Ronkonkoma. Jamie Winkler of Winkler Real Estate represented the tenant, as well as the landlord, Ebert Family Trust, in the lease transaction.

     

    1 Saxwood St., Deer Park

    La Nonna’s Pasta, an importer and distributor of Italian food specialties, purchased the 20,000-square-foot building on 1.1 acres at 1 Saxwood St. in Deer Park for $3.9 million, which was $100,000 over the asking price. La Nonna’s, which is relocating from space it leases nearby, will be occupying about half of the building, as the other half is leased by Nutra Solutions, a provider of dietary supplements, nutraceuticals, sports nutrition and functional nutritional products. Built in 1973, the building has 16-foot ceilings, two loading docks and two drive-in doors. Alberto Fiorini of Alliance Real Estate represented the buyer, while Alan Yaffe of United Realty represented the seller, PKL Realty LLC, in the sales transaction.

     

    25 West Sunrise Highway, Freeport

    Version Performance Inc. leased a 5,104-square-foot commercial building on .26 acres at 25 West Sunrise Highway in Freeport. Jesse Jimenez of Primal Property Group represented the tenant, while the landlord, Frontseat LLC, was self-represented in the lease transaction.

     

    15-17 Oak St., Patchogue

    Set Straight Realty, an affiliate of a dental practice, purchased the 9,000-square-foot retail building on .34 acres at 15-17 Oak St. in Patchogue for $1.895 million. The dental office will occupy the ground floor and School of Rock occupies the lower level. Michael Murphy of Douglas Elliman Commercial represented the buyer, as well as the seller, Day For A Daydream LLC, in the sales transaction.

     

    5070 Sunrise Highway, Massapequa

    NY Performance LLC, an automotive diagnostics business, leased a 1,000-square-foot retail building on .25 acres at 5070 Sunrise Highway in Massapequa. Chris Ferencsik of Schacker Realty represented the tenant, as well as the landlord, J.W. Mays Inc., in the lease transaction.

     

    2155 Fifth Ave., Ronkonkoma

    Legacy Lacrosse leased a 16,000-square-foot industrial building on 1.1 acres at 2155 Fifth Ave. in Ronkonkoma. Michael Murphy and Thomas Kelly of Douglas Elliman Commercial represented the tenant, while Gary Pezza of DGNY Commercial represented the landlord, 2155 Fifth Realty, in the lease transaction.

     

    335 Route 25A, Miller Place

    Dollar General leased an 11,679-square-foot retail space in the Miller Place Square shopping center at 335 Route 25A in Miller Place. The space was formerly occupied by Rite Aid. Dennis Gandley of Douglas Elliman Commercial and Jonathan Sussman of JRS Realty Advisors represented the tenant, while Devang Patel of Douglas Elliman Commercial represented the landlord, Pina Construction Corp., in the lease transaction.


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    David Winzelberg

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  • Center Moriches industrial property sells for $4.425M | Long Island Business News

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    Fully leased Center Court Industrial Park in Center Moriches sold for $4.425M.

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    David Winzelberg

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  • Long Island home prices soar to new heights as supply drops | Long Island Business News

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    THE BLUEPRINT:

    • Nassau County’s median home price rose to $875,000 in August

    • Suffolk County’s median reached $714,000, up 5% from last year

    • Long Island housing inventory dropped 6.5% year-over-year

    • Baby boomers less likely to sell, fueling housing shortage

     

    Long Island home prices rose to all-time highs last month, fueled by lagging inventory. 

    The median price of closed single-family home sales in Nassau County in August climbed to $875,000, a $15,000 jump from the previous month and a 5.4 percent increase from the $830,000 median recorded in August 2024, according to numbers from . 

    In Suffolk County, the median price of closed single-family home sales last month was $714,000, that’s $12,000 higher than the previous month and 5 percent more than the August 2024 median price of $680,000. 

    The main reason for the soaring home prices is the still limited supply of available listings, as the inventory of available homes for sale last month fell from the previous month and there were fewer listings than a year ago. 

    There were 5,928 Long Island homes listed for sale with OneKey MLS at the end of last month—2,492 in Nassau and 3,436 in Suffolk. That’s 296 fewer than the 6,224 homes listed for sale at the end of July and 6.5 percent fewer than the 6,343 homes listed for sale at the end of August 2024. 

    By way of comparison, there were 54.6 percent fewer Long Island homes listed for sale at the end of last month than the 13,076 homes listed for sale at the end of August 2019, the last pre-pandemic, same-month example. 

    As the lack of inventory continues to boost prices, market activity has slowed as a result. There were 2,245 homes in Nassau and Suffolk contracted for sale last month, 90 less than the 2,335 homes contracted for sale the previous month, though 50 more than the 2,195 that were contracted for sale in August 2024. 

    The numbers for listings and sales include single-family homes, condominiums, and co-ops. The Suffolk numbers don’t reflect all sales on the East End. 

    A big reason for the dearth of available listings are older homeowners’ increasing reluctancy to sell, according to a new survey from Clever Offers, a cash-for-homes platform. Of those surveyed nationally, 61 percent of baby boomers say they never plan to sell their homes, which is 7 percent higher than those surveyed a year ago. In addition, the number of boomer homeowners who expect to sell within the next five years dropped to just 10 percent, down from 15 percent in 2024.   

    One bright spot in the housing market is lower mortgage rates. The average rate for a 30-year fixed mortgage loan in New York was 6.37 percent as of Wednesday, according to NerdWallet.com. That’s down from July, and below the 2024 average rate of 6.7 percent. 

    And though lower rates sounds like good news, brokers warn that it could be a double-edged sword for buyers, as lower rates will create more buying competition and likely higher prices. 

    “Inventory should pick up in the next 12 months if we see lower rates because the sellers will more likely now cash in their equity and maybe their 3.5 interest rate if they could get a 5 to 5.75,” said Ken Olson, an associate broker with HomeSmart Premier Living Realty, which has six Long Island offices. “But at the same time, I think we’ll see more buyer participation as the rates go down. And even if the number of homes for sale goes up, if the buyer percentage goes up greater, we have the same problem. It’s going to cause prices to go higher.” 


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    David Winzelberg

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  • Global REIT buying six Long Island senior housing properties | Long Island Business News

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    Inked: Long Island commercial real estate sales and leases

    Recent Long Island commercial deals include property sales in Oceanside, Babylon, Riverhead, and North Babylon[…]

    August 21, 2025

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    David Winzelberg

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

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    3 Anchor Ave. Oceanside

    Joe Automotive LLC purchased a 3,129-square-foot industrial building on .09 acres at 3 Anchor Ave. in Oceanside for $500,000. Jesse Jimenez of Primal Property Group represented the buyer, while Linda Jolly of Douglas Elliman Real Estate represented the seller, Kathleen Orth, in the sales transaction.

     

    68 West Main St., Babylon

    Pharmarista, a pharmacy and drugstore-soda shop café offering egg creams, lattes, coffees and snacks, has opened a 1,300-square-foot location at 68 Main St. in Babylon Village next to the Argyle Theater. Daniel Marcello, a pharmacist for over 20 years working in a corporate pharmacy, opened the new business. Jamie Winkler of Winkler Real Estate represented the tenant, as well as the landlord, TLCM Realty LLC, in the lease transaction.

     

    642 West Main St., Riverhead

    New Generation Properties LLC, an entity of a Long Island-based automobile business, purchased a 1.4-acre property at 642 West Main St. In Riverhead for $2.5 million. The property has two buildings totaling 16,265 square feet. Originally built as a gas station, the property was the long-time home of Riverhead Chrysler Dodge Jeep Ram, which relocated to a new 26,000-square-foot facility at 1716 Old Country Road this spring. Dennis McCoy of DGNY Commercial and Joe Bellavia of Jos. Bellavia & Sons represented the buyer, as well as the seller, Riverhead Dodge, in the sales transaction.

     

    1469 Deer Park Ave.,  North Babylon

    Lala LLC purchased a 2,500-square-foot building on .27 acres at 1469 Deer Park Ave. in North Babylon for $925,000. Michael Zere of Zere Real Estate Services represented the buyer, as well as the seller, 1469 DPA Corp., in the sales transaction.

     

    47-49 Jersey St., West Babylon

    Eddie’s Ultimate Truck Auto and Bus Repair, Inc. leased 11,000 square feet of industrial space at 47-49 Jersey St. in West Babylon. The company, which services and maintains school buses of several local school districts, is relocating from Deer Park. Christopher Cardenas of Tripoint Real Estate represented the tenant, while Luciano Oliverio of Summit Commercial Real Estate represented the landlord, 47-49 Jersey St. LLC, in the lease transaction.


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    David Winzelberg

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