Metropolitan Realty Associates Acquires Industrial Property In Long Island For $14M

The industrial property located at 5 Inez Dr. in Long Island has been sold in a recent transaction. The property spans 94,000 square feet and was sold for a sale price of $14,000,000, resulting in a price per square foot of $148. The transaction took place between Metropolitan Realty Associates, represented by Joseph Farkas, Paul Jaffe, and Angelo Gordon, and Adscott Realty Company, represented by Scott Roth.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $14,000,000
• Address: 5 Inez Dr., Long Island
• Market: Long Island

In this deal, Metropolitan Realty Associates, led by Joseph Farkas, Paul Jaffe, and Angelo Gordon, acted as the buyer. They were represented by Michael Ventricelli from Cushman & Wakefield. On the other hand, the seller, Adscott Realty Company, was represented by Richard Cohen from Ashlind Properties.