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Tag: suffolk county real estate

  • Inked: Long Island commercial real estate transactions | Long Island Business News

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    22 Industrial Blvd., Medford

    Facema New York Inc. leased 3,000 square feet of industrial space at 22 Industrial Blvd. in Medford. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, TDS Realty Inc., in the lease transaction.

     

    1087-1099 Smithtown Ave., Bohemia

    Seaford-based Petrakis Properties purchased the 6,160-square-foot building on .73 acres at 1087-1099 Smithtown Ave. in Bohemia for $1.82 million. The seven-store property is fully occupied by a variety of neighborhood tenants. The sale price equates to a 7.3 percent cap rate. Adam Silber, principal of Silber Investment Properties, represented the buyer, while his Silber Investment Properties colleague Abraham Adjmi represented the seller, Bohemia Shopping Center LLC, an affiliate of Robert Ferrara, in the sales transaction.

     

    1707 Middle Country Road, Centereach

    ARF Group leased a 2,500-square-foot retail space in the New Village Plaza shopping center at 1707 Middle Country Road in Centereach. Expected to open this spring, the Centereach store will join the ARF Group’s Pizza Hut locations in Patchogue, Shirley, Middle Island and Huntington Station. All of the franchisee’s Pizza Hut restaurants on Long Island are the chain’s new model called DELCO, which stands for + carryout, as the company pivots from the traditional red-roofed, standalone dine-in restaurants. Rachel Butiu of Mason Asset Management represented ARF Group, while Peter Dilis of Olympic Property Management represented the landlord, MVC Properties, in the Centereach lease transaction.

     

    707 Walt Whitman Road, Melville

    Meinergy LLC, an affiliate of a Long Island-based investor, purchased the two-story, 4,100-square-foot mixed-use building on .09 acres at 707 Walt Whitman Road in Melville for $1.125 million. The 2,060-square-foot retail space on the building’s ground floor is occupied by Signature Carpet & Flooring, while the second-floor office space is currently vacant. The buyer plans to lease the available office space and possibly occupy a portion, according to a broker on the deal. Viola Deng of Go Go International Realty represented the buyer, while Marissa Cosentino and Juliana Chiarelli of Scout Realty Group represented the seller, BJAMD LLC, in the sales transaction.

     

    611 Sunrise Highway, Patchogue

    611 Sunrise Highway LLC, an affiliate of Steven Gomes, owner of Long Island automobile dealerships, purchased a 10,000-square-foot building on .87 acres at 611 Sunrise Highway in Patchogue for $2.85 million. The sale price equates to $285 per square foot. The property, once home to a Harrow’s store, was last occupied by an irrigation supply firm. The buyer plans on using the building as an auto parts warehouse. Jason Merrell of Island Associates Real Estate represented the buyer, as well as the seller, GEJAC Properties LLC, in the sales transaction.

     

    675 Hempstead Turnpike, Franklin Square

    Hermes Management LLC, whose principal resides in Muttontown, purchased a 2,456-square-foot building on .28 acres at 675 Hempstead Turnpike in Franklin Square for $3.75 million. The property is leased to Citizens Bank. The sale price equates to a 5.28 percent cap rate. Hermes Management also acquired a 2,500-square-foot building on .80 acres at 820 Bloomfield Ave. in West Caldwell, N.J. for $3.5 million. That property is also leased to Citizens Bank and the sale price equates to a 5 percent cap rate. Anne Chang of JadeStone Real Estate Consulting represented the buyer, while Dylan Silber of Silber Investment Properties represented the seller, Manzo-Doren Organization LLC, in the Franklin Square and West Caldwell sales transactions.

     

    50 Montauk Highway, East Islip

    50 E. Main LLC, an affiliate of Bellmore-based restaurateur Dimitrios Sourgoutsis, purchased the 3,000-square-foot building on .80 acres at 50 Montauk Highway in East Islip for $1.8 million. The property is triple net leased to Friendly’s through May 31, 2037, with four additional five-year options to renew. The sale price equates to a 5.87 percent cap rate. The Friendly’s in East Islip is one of nine of the chain’s Long Island locations, including East Meadow, Massapequa Park, Commack, Sayville, Stony Brook, Medford, Coram and Shirley. Dylan Silber of Silber Investment Properties represented the buyer, as well as the Dix Hills-based seller, 50 Montauk Highway LLC, in the East Islip sales transaction.


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    David Winzelberg

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  • Industrial property on Sunrise Highway sells for $2.85M | Long Island Business News

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

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    520 Franklin Ave., Garden City

    Larry Good MD leased 1,305 square feet of at 520 Franklin Ave. in Garden City. Dillan Morris-Timoney of Industry One Realty represented the tenant, while Matthew Kucker of Colliers represented the landlord, 520 Franklin Avenue Owner LLC, in the lease transaction.

     

    675 Hempstead Turnpike, Franklin Square

    Manhasset-based Hermes Management LLC purchased a 2,456-square-foot building on .28 acres at 675 Hempstead Turnpike in Franklin Square for $3.75 million. The property is leased to Citizens Bank. The sale price equates to a 5.28 percent cap rate. Hermes Management also acquired a 2,500-square-foot building on .80 acres at 820 Bloomfield Ave. in West Caldwell, N.J. for $3.5 million. That property is also leased to Citizens Bank and the sale price equates to a 5 percent cap rate. Anne Chang of JadeStone Real Estate Consulting represented the buyer, while Dylan Silber of Silber Investment Properties represented the seller, Manzo-Doren Organization LLC, in the Franklin Square and West Caldwell sales transactions.

     

    205 Brookville Ave., Islip

    Contracting firm Dussan, Inc. leased a 5,200-square-foot industrial building on .51 acres at 205 Brookville Ave. in Islip. The building, which features 20-foot ceilings in its warehouse, was formerly occupied by All State Roofing. Jesse Najjar of JNRE Leasing Corp. represented the tenant, while Roger Delisle and Robert Monahan of Island Associates Real Estate represented the landlord, 205 Brookville Ave. LLC, in the lease transaction.

     

    1825 Brentwood Ave., Brentwood

    Robin’s Barbershop leased 2,200 square feet of space in the Brent City shopping center at 1825 Brentwood Road in Brentwood. Bob Raffa of Island Associates Real Estate represented the tenant, as well as the landlord, 1825 Brentwood Road Associates LLC, in the lease transaction.

     

    590 Oak St., Copiague

    188 Long Island LLC, an affiliate of Wellwood Cabinetry, purchased the 32,578-square-foot industrial building on 1.5 acres at 590 Oak St. in Copiague for $5.5 million. Wellwood, a custom cabinet maker and assembler, is relocating from 11,107-square-foot building at 910 N. Wellwood Ave. in Lindenhurst. Luca Perinuzzi and Ralph Perna of Schacker Realty represented the buyer, as well as the seller, 590 Oak Family Limited Partnership, in the sales transaction. The brokers are also marketing for Wellwood’s Lindenhurst property for sale.

     

    45 Ranick Road, Hauppauge

    Fulfillment Plus, a third-party logistics company, leased 56,500 square feet of industrial space at 45 Ranick Road in Hauppauge, consolidating and expanding from about 20,000 square feet it occupied at 25 Andrea Road in Holbrook. Fulfillment Plus is also looking to sublease the 50,000 square feet it has at 889 Waverly Ave. in Holbrook, with plans to expand further and eventually lease the entire 125,147-square-foot building on 8.73 acres at 45 Ranick Road, according to a broker on the deal. Fulfillment Plus provides order fulfillment, inventory storage and management, returns processing, subscriptions and custom packaging and syncing with major online platforms like , Walmart, Shopify and others, according to its website. Joshua Cohen and Kyle Burkhardt of Newmark represented Fulfillment Plus, as well as the landlord, SRE 45 Ranick Road LLC, an affiliate of Sterling Investors, in the Hauppauge lease transaction.

     

    2040 Express Drive South, Hauppauge

    Dealer Tire renewed its lease for 72,920 square feet of industrial space at 2040 Express Drive South in Hauppauge. Joshua Cohen and Kyle Burkhardt of Newmark represented the tenant, as well as the landlord, N&G Realty Co., in the lease transaction.


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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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    130 Eileen Way, Syosset

    Total Restoration Industries purchased the 30,500-square-foot building on 1.5 acres at 130 Eileen Way in Syosset for $9.093 million. The company, in business for more than 30 years, specializes in restoring property damaged by fire and smoke, water and flooding and mold remediation. It will be relocating from its current location down the street at 160 Eileen Way. The Syosset property at 130 Eileen Way had been the home of Big Blue Products, a global provider of IT products, computers, laptops, tablets and related parts and accessories. Max Omstrom of JLL represented the buyer, while Jason Miller and Jeffrey Schwartzberg of Premier represented the seller, Alnwick Castle LLC, in the sales transaction.

     

    4250 Veterans Memorial Highway, Holbrook

    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 in Holbrook for $13 million. 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 executives with Melville-based Fairfield Properties, the Holbrook deal has nothing to do with Fairfield, and the property will be managed by MDJ. Financing for the acquisition was provided by Joseph Fingerman at Peapack Private Bank & Trust. The buyer was self-represented, while Dan Abbondandolo, Joegy Raju and Victor Little of Cushman & Wakefield’s Long Island 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.

     

    60-70 Cleveland Ave., Bay Shore

    ZNM LLC purchased a 41,419-square-foot industrial building on 2.9 acres at 60-70 Cleveland Ave. in Bay Shore for $6.35 million. The building has a 13,000-square-foot mezzanine and 22-foot-high ceilings. Luca Perinuzzi and Ralph Perna of Schacker Realty represented the buyer, while Reid Berch and Joseph Lagano of Avison Young represented the seller, SLMP Facility LLC, in the sales transaction.

     

    21-23 S. Park Ave., Rockville Centre

    Eager Realty LLC, an affiliate of a family-owned real estate investment group, purchased a 2,640-square-foot restaurant building at 21-23 S. Park Ave. in Rockville Centre for $1.675 million. The building is triple-net-leased to The Ivy Kitchen & Bar, which also has a location in Huntington. The sale price equates to $634 per square foot and a 7 percent cap rate. The buyer was self-represented, while Tom Bigansky of North Village Realty represented the seller, CSK Realty Inc., in the sales transaction.

     

    1821 Broadhollow Road, East Farmingdale

    Value Outlet leased a 20,000-square-foot building on 1.13 acres at 1821 Broadhollow Road in East Farmingdale, where it plans to open its first store. The property was the former long-time home of Ashley Furniture.

    The newly minted Value Outlet is an off-price retailer of apparel, footwear, home goods and accessories. The East Farmingdale building is currently undergoing renovations, and the new store is expected to open in the next few months. Luciano Oliverio of Summit Commercial Real Estate represented Value Outlet, while the landlord JSP Realty Group was self-represented in the lease transaction.

     

    48 West Main St., Patchogue

    Tapster, a self-pour tasting room franchise, leased a 4,200-square-foot space at 48 West Main St. in Patchogue. The space was formerly occupied by Pinball Long Island. This will be the first Long Island location for Tapster, a growing franchise that has other locations open in Seattle and Bellevue, Wash., Cleveland, Ohio, Chicago, Philadelphia and Lexington, Ky. Tapster offers a self-serve tasting room model, allowing guests to explore a wide selection of craft beers, wines, cocktails, ciders, kombucha, and non-alcoholic beverages purchased by the ounce. The Patchogue Tapster, owned and operated by franchisee Allison Dee, is expected to open this spring. John Pacifico of NAI Long Island represented the tenant in the Patchogue lease transaction.

     

    365 Oser Ave., Hauppauge

    Boduo International Trade LLC, an affiliate of a supplier of bubble tea ingredients and products, leased a 20,000-square-foot industrial building on 1.14 acres at 365 Oser Ave. in Hauppauge. The company is relocating from its current facility in Farmingdale. Founded in 2014, Boduo International is a subsidiary of Boduo Holding Group, one of the largest milk tea suppliers in China since 2000, according to its website. The company’s product offerings include tea, non-dairy creamer, popping boba, toppings, powder, jam and syrup. Desmond Mullins of Premier Commercial Real Estate represented the tenant, as well as the landlord, Heartland Associates, in the lease transaction.

     

    301 Walt Whitman Road, Huntington Station

    Seven Hearts Realty LLC, an affiliate of a family-owned commercial real estate investment group, purchased the 19,530-square-foot building on 1.2 acres at 301 Walt Whitman Road in Huntington Station for $14.2 million. The acquisition was completed to satisfy the buyer’s 1031 exchange requirement. The Huntington Station property is fully occupied by Barnes & Noble, which leases 14,330 square feet and a T-Mobile store that leases 5,200 square feet. There is parking for 16 vehicles in front and another 50 parking spaces behind the building. The sale price equates to $727 a square foot and a 6.45 percent cap rate. Daniel Abbondandolo, Joegy Raju, Victor Little and Chris Sheldon of Cushman & Wakefield procured the buyer and represented the seller, 301 Route 110 LLC, in the sales transaction.

     

    445 Winding Road, Old Bethpage

    Daniels Real Estate Acquisition Inc., an affiliate of Daniels , purchased the 23,159-square-foot industrial building on 1.5 acres at 445 Winding Road in Old Bethpage for $6.69 million. Paul Leone of CBRE represented the buyer, while Gary Chimeri and Michael Berndt of Paramount Properties Group represented the seller, Quarter to Five Inc., in the sales transaction.

     

    41 Howard Place, Ronkonkoma

    ISP Millwork Inc. leased 9,000 square feet of industrial space at 41 Howard Place in Ronkonkoma. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, 41 Howard Place LLC, in the lease transaction.


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    David Winzelberg

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  • Two-building Bohemia portfolio trades for $17.5M | Long Island Business News

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    THE BLUEPRINT:

    • purchased two industrial buildings at 100 and 110 Wilbur Place for $17.5 million

    • The 73,811-square-foot portfolio is fully occupied by in a

    • Properties feature 16-foot ceilings, multiple loading docks, and excess land for expansion

    • Deal marks Faropoint’s eighth Long Island acquisition and second here in three months

     

    A two-building industrial portfolio in Bohemia has been sold for $17.5 million. 

    Hoboken, N.J.-based Faropoint purchased the properties at 100 and 110 Wilbur Place, which total 73,811 square feet on a combined 6 acres. 

    Both properties are occupied by New York Tent, which had owned the buildings but will now be tenants of the new owner in the sale-leaseback. 

    In 2021, New York Tent, through its affiliates 100 Wilbur Place LLC and 110 Wilbur Place LLC, purchased 100 Wilbur for $6.5 million and 110 Wilbur for $4.96 million. 

    The 43,785-square-foot building on 2.6 acres at 100 Wilbur Drive has 16-foot ceilings, five loading docks and two drive-in bays. The building includes about 4,000 square feet of office space. 

    The 30,026-square-foot building on 3.45 acres at 110 Wilbur Drive also has 16-foot ceilings, three loading docks and one drive-bay. It has about 10,000 square feet of office space. The building, which has rooftop solar panels, is expandable to add about 22,000 square feet, according to its listing brochure. 

    “We’re thrilled to announce the successful closing of 100 & 110 Wilbur Place in Bohemia—two well-located, low-coverage industrial assets in the heart of Long Island’s Central Suffolk County submarket,” Matthew Bernstein, Faropoint’s director of acquisitions, told LIBN. “With irreplaceable real estate, excess land for future flexibility, and a tenant deeply entrenched in its operations, this investment strengthens our industrial sale-leaseback fund strategy.” 

    The Wilbur Place acquisition is Faropoint’s eighth on Long Island and its second here in the last three months. In Oct. 2025, the company purchased a fully occupied 40,000-square-foot industrial building on 2.22 acres at 593 Acorn St. in Deer Park for $7.55 million in another sale-leaseback deal. Its other Long Island assets are in Bohemia, Farmingdale and Hauppauge.   

    Faropoint, founded in 2012, 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.  

    Founded in 1994, New York Tent is a full-service tent, temporary structure, and event rental company serving the greater New York metro area, as well as clients across the nation. The company offers a wide range of products and services, including tents, temporary structures, flooring, lighting, staging, HVAC, temporary power, rental furniture, and more, according to its website. 

    Faropoint was self-represented, while Tommy Rosati, Jason Maietta and Brandon Lichtenstein of Colliers and Richard Cohen of Ashlind Properties represented the seller in the Bohemia sales transaction. 


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    David Winzelberg

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  • Mortgage rates at 3-year lows, though high prices thwart buyers | Long Island Business News

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    THE BLUEPRINT:

    • 30-year fixed dropped to about 6.15%, the lowest since September 2022

    • Some lenders are advertising rates as low as 5.75% for qualified buyers

    • Nassau County median home price reached $840,000; Suffolk hit a record $725,000

    • Long Island remains historically low, limiting affordability and sales

     

    Prospective homebuyers are starting the new year with a glimmer of hope, as mortgage rates have dropped to their lowest levels in three years, though high Long Island continue to hamper housing market activity. 

    The average rate for a 30-year fixed-rate mortgage is now just north of 6 percent, which is lower than any point in 2025 and the lowest since Sept. 2022, according to Bankrate.com. 

    The average rate on 30-year fixed home loans decreased to 6.15 percent for the week ending Dec. 31, according to Freddie Mac. By comparison, rates averaged 6.91 percent during the same period in 2024. 

    While rates vary based on credit scores, down payment and upfront points, lenders are now advertising 30-year fixed-rate loans as low as 5.75 percent (U.S. Bank), 5.825 percent (Guaranteed Rate), 6 percent (M&T) and 6.125 percent (Bank of America and Wells Fargo). 

    And though mortgage rates have been considered high in the last couple of years when compared with the ultra-low COVID-era rates, the 30-year fixed-rate mortgage rate actually averaged 7.7 percent from 1971 through 2025, according to TradingEconomics.com, with an all-time high of 18.63 percent in Oct. 1981 and a record low of 2.65 percent in Jan. 2021. 

    But despite the lower rates, homebuyers on Long Island are still stymied by record high home prices, which mortgage brokers say is the biggest obstacle facing the housing market, especially for younger buyers just starting out. 

    The median price of closed single-family home sales in Nassau County in November was $840,000, which was $3,000 more than the October median price of $837,000 and 8.4 percent higher than the $775,000 median price recorded in Nov. 2024, according to numbers from OneKey MLS. 

    In Suffolk County, the median price of closed single-family home sales in November was an all-time high of $725,000, an increase of $24,000 from the previous month and 11.1 percent higher than the $652,500 median price of a year ago. 

    Housing industry observers say home prices are rising because the number of available homes for sale is so low. 

    There were 5,114 Long Island homes, including single-family, condos and co-ops, listed for sale with OneKey MLS at the end of November—2,159 in Nassau and 2,955 in Suffolk. That’s 669 fewer homes than were listed for sale the previous month, and 13.4 percent fewer than the 5,899 homes that were listed for sale at the end of Nov. 2024.   

    As a further illustration of the historically low inventory, when mortgage rates in Nov. 2008 matched the current rates, there were 23,367 Long Island homes listed for sale with MLS, four-and-a-half times as many as this past November. 

    Jesse Sasso, branch manager and loan officer at Contour Mortgage in Huntington, told LIBN last year that the mortgage rate isn’t impacting demand from prospective homebuyers, though prices certainly are.  

    “They’re way more concerned with the prices now. And I think that that’s going to have to come to a head,” Sasso said. “The inventory has got to increase. If the inventory doesn’t increase, it’s simple supply and demand. And if the availability doesn’t increase, then the values are going to continue to increase. People are just going to pull back from buying, regardless of the rates.” 

    Kevin Leatherman, owner-broker at Leatherman Homes in Rockville Centre, told LIBN last month that lower mortgage rates are a double-edged sword. 

    “The challenge is, when the mortgage rates go down, you’re going to have more competition,” he said, adding that a rate drop could precipitate a rise in inventory. “I think until you have a situation where the current mortgage rate is closer to the rate that somebody’s currently paying, the spread has to narrow in order to get more sellers into the market.” 


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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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