Modern Packaging Signs Lease For 106216 SF At 55 Paradise Lane In Bay Shore
55 Paradise Lane
Building Size
106,216 SF
Asset Type
Industrial
Closing
Sep 10, 2025
AI
The property involved in this transaction is an industrial asset located at 55 Paradise Lane in Bay Shore. It encompasses a total square footage of 106,216, situated within a larger 172,622-SF industrial building developed by Rockefeller Group.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 55 Paradise Lane
- Market: Bay Shore
- Landlord: Daniel J. Moore - Rockefeller Group
- Tenant: Modern Packaging
- Brokers: Thomas DeLuca, Jordan Weidner, Nicholas Gallipoli, Frank Frizalone, John Giannuzzi, David Frattaroli & Austin Fitzpatrick - Cushman & Wakefield
Modern Packaging, a subsidiary of ProMach, has signed a lease agreement for the property and is planning to relocate from Deer Park in the spring of 2026. The company is also pursuing economic incentives from the Town of Islip IDA to support its move.
Players
Bay Shore Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93