Updated Oct 20, 2026
New York Life Investment Management Acquires Industrial Property In Commack For $58.25M
49 Mall Drive
$58,250,000
$327/SF
Building Size
178,134 SF
Asset Type
Industrial
Closing
Oct 1, 2026
About this deal
AI
The property asset involved in this transaction is an industrial space located at 49 Mall Drive in Commack. The total sale price for this asset was $58,250,000, and it encompasses a total square footage of 178,134. The price per square foot is calculated at $327.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $58,250,000
- Address: 49 Mall Drive
- Market: Commack
- Square Footage: 178,134
- Price Per Square Foot: $327
- Buyer: New York Life Investment Management
- Seller: Bristol Group
- Seller's Representatives: Gary Gabriel, Kyle Schmidt, Ryan Larkin, Seth Zuidema & Thomas (Tom) DeLuca - Cushman & Wakefield
The transaction featured New York Life Investment Management as the buyer and Bristol Group as the seller, with representation from Gary Gabriel, Kyle Schmidt, Ryan Larkin, Seth Zuidema, and Thomas (Tom) DeLuca from Cushman & Wakefield overseeing the deal for the seller.
On the Map
$58,250,000
$327/SF
Industrial
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Players
Commack 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93