Updated Sep 25, 2026
Adir Levitas Of Faropoint Acquires Industrial Property In Farmingdale For $6.35M
1845 New Highway
$6,350,000
$189/SF
Building Size
33,500 SF
Asset Type
Industrial
Closing
Sep 22, 2026
About this deal
AI
Faropoint acquired an industrial property located at 1845 New Highway in Farmingdale. The transaction valued the property at $6,350,000, and it encompasses a total area of 33,500 square feet, resulting in a price per square foot of $190.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,350,000
- Address: 1845 New Highway
- Market: Farmingdale
- Buyer: Adir Levitas - Faropoint
- Seller: Harris Development Group
- Broker: Cole Malinowski - Keller Williams Realty
- Square Footage: 33,500
- Price per Square Foot: $190
This transaction marks Faropoint's 10th acquisition in Long Island since 2023, emphasizing their continued expansion in the region's industrial real estate market.
On the Map
$6,350,000
$189/SF
Industrial
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Players
Farmingdale 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
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93