SOLDIndustrial
Adir Levitas Of Faropoint Purchases Industrial Property From Enzo Realty For $5.25M In Farmingdale
10 Executive Boulevard
$5,250,000
$239/SF
Building Size
21,895 SF
Asset Type
Industrial
Closing
Jul 8, 2026
AI
The industrial property located at 10 Executive Boulevard in Farmingdale encompasses 21,895 square feet and is situated on a 1.5-acre site. The property was sold for $5,250,000, resulting in a price per square foot of $240. This deal is notable as it involves a sale-leaseback arrangement with Enzo Life Sciences remaining as a long-term tenant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,250,000
- Address: 10 Executive Boulevard
- Market: Farmingdale
- ACRES: 1.5
- Square Feet: 21,895
- Price per Square Foot: $240
- Buyer: Adir Levitas - Faropoint
- Seller: Enzo Realty LLC / Enzo Life Sciences
- Broker Representatives: Kyle Burkhardt, Joshua Cohen & Mason Morrow - Newmark
Adir Levitas represented Faropoint in this acquisition, marking the firm's ninth property purchase in Long Island and the third in the last nine months. Enzo Life Sciences, the seller, continues its operations at the property as a tenant in the sale-leaseback agreement.
Players
Bly Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93