Updated Oct 15, 2026
John & Peter Venetis Acquire Industrial Asset In Port Washington From Ron DeMeo For $2.2M
88 South Bayles Avenue
$2,200,000
$938/SF
Building Size
2,345 SF
Asset Type
Industrial
Closing
Oct 6, 2026
About this deal
AI
The property asset involved in the transaction is an industrial asset located at 88 South Bayles Avenue in the Port Washington market. The sale price was $2,200,000 for a total square footage of 2,345, resulting in a price per square foot of $938.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,200,000
- Address: 88 South Bayles Avenue
- Market: Port Washington
- Square Footage: 2,345
- Price Per Square Foot: $938
- Buyer: John & Peter Venetis
- Seller: Ron DeMeo
- Brokers: Luca DiCiero, Nicholas Evangelista & Giuseppe Gregorio - NY Space Finders
The deal involved John and Peter Venetis as the buyers and Ron DeMeo as the seller, with representation provided by brokers Luca DiCiero, Nicholas Evangelista, and Giuseppe Gregorio from NY Space Finders, ensuring a comprehensive approach to the transaction.
On the Map
$2,200,000
$938/SF
Industrial
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Players
Port Washington 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93