Garden City Buyer LLC Acquires Mixed-use Property At 1300 Franklin Avenue For $36M

A mixed-use building located at 1300 Franklin Avenue in Garden City has been sold for $36,000,000. The asset spans approximately 127,496 square feet and occupies 2.3 acres of land. The property has a price per square foot of $282 and features tenants including NYU Langone Health, Walgreens, Cornell Medicine and Healthtrax, which together occupy 78.5% of the building's space.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $36,000,000
• Address: 1300 Franklin Avenue
• Market: Garden City
• Square Footage: 127,496
• Price per Square Foot: $282
• Buyer: Garden City Buyer LLC
• Seller: Peter Palandjian - Intercontinental Real Estate Corporation

The deal involved Garden City Buyer LLC as the purchaser and Peter Palandjian of Intercontinental Real Estate Corporation as the seller, highlighting the active interest in mixed-use properties in the Garden City market. The transaction showcases the continued demand for commercial real estate with established tenants contributing to the building's stability.