Rick Aarco Purchases Development Site In Amityville NY From Mitchell Morris For $1.55M

The property asset involved in this transaction is a development site located at 0 Albany Ave., Amityville, NY. The sale price was $1,550,000, with an approximate building square footage of 20,000 and a price per building square foot of $77. The total square footage of the site is 87,120, translating to a price per square foot of $17, on a lot size of 2 acres.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,550,000
• Building Square Footage: 20,000
• Price per Building Square Foot: $77
• Total Square Footage: 87,120
• Price per Square Foot: $17
• Lot Size: 2 acres
• Buyer: Rick Aarco
• Seller: Mitchell Morris
• Broker: Michael Gronenthal - Douglas Elliman

The last remaining undeveloped parcel in the Amityville Industrial Park was involved in this off-market transaction. The buyer, Rick Aarco, plans to undertake a ±20,000 SF industrial development on the site, highlighting the potential for future growth in the area.