Abe & Morey Mayeri Acquire Industrial Asset At 10 Commerce Drive Hauppauge For $7.6M

The property asset involved in this transaction is an industrial asset located at 10 Commerce Drive in Hauppauge. The sale was completed for a price of $7,600,000, with a total square footage of 33,540 and a price per square foot of $226.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,600,000
• Address: 10 Commerce Drive
• Market: Hauppauge
• Square Footage: 33,540
• Price per Square Foot: $226
• Buyer: Abe & Morey Mayeri
• Seller: Mr. Marc Zemel
• Buyer's Representative: Joshua Cohen & Kyle Burkhardt - Newmark
• Seller's Representative: Gary J Chimeri & Michael Berndt - Paramount Properties Group

Notably, Joshua Cohen and Kyle Burkhardt from Newmark represented the buyers in this transaction. The seller was represented by Gary J Chimeri and Michael Berndt of Paramount Properties Group. Cohen expressed that securing 10 Commerce Drive was essential as expansion space for Royal Apparel and emphasized the competitive landscape that necessitated a swift and decisive action to close the deal.