James Derri Acquires Mixed-Use Property In Baldwin For $1.2M

The two-story mixed-use asset located at 2426-2428 Grand Avenue in Baldwin has been sold for $1,200,000. The property, which spans 5,500 square feet, was sold at a rate of $218 per square foot. At the time of the sale, the building was fully leased and consisted of three residential units and two commercial units on the ground floor.

Summary of transaction details:

• Property Type: Mixed-Use
• Sale Price: $1,200,000
• Square Footage: 5,500
• Price Per Square Foot: $218
• Address: 2426-2428 Grand Avenue, Baldwin
• Market: Baldwin

Cushman & Wakefield's Team Abbondandolo, including brokers Daniel Abbondandolo, Joegy Raju, Joe Musso, Victor Little, and Rob Cullen, facilitated the successful sale of the property. The team is pleased to announce the completion of the transaction.

The Town of Hempstead's adoption of an overlay district in 2019 has attracted several developers who plan to invest hundreds of millions of dollars in projects along the Grand Avenue corridor, from Merrick Road to Stanton Avenue. These projects aim to create new rental housing and commercial spaces.

For additional information, please contact Daniel Abbondandolo, the Executive Director of TEAMABBONDANDOLO - Capital Markets & Investment Sales at Cushman & Wakefield. He can be reached at 516-375-6336 or via email at [email protected].