Lufthansa Building In East Meadow, Nassau County Sells For $20.25M

The Lufthansa Building, located at 1640 Hempstead Turnpike in East Meadow, Nassau County, was recently sold in a ground lease transaction. The property, which consists of a Self Storage facility and a Fuel Cell Farm - Energy Station, was sold for a total price of $20,250,000. The building has a total square footage of 108,000, resulting in a price per square foot of $187.

Summary of transaction details:

• Property Type: Ground Lease: Self Storage & Fuel Cell Farm - Energy Station
• Transaction Amount: $20,250,000
• Address: The Lufthansa Building - 1640 Hempstead Turnpike
• Market: East Meadow, Nassau County

The sale of The Lufthansa Building was facilitated by Daniel Abbondandolo, Dimitri Mastrogiannis, and Joegy Raju, who represent Team Abbondandolo at Cushman & Wakefield. Team Abbondandolo specializes in Capital Markets - Investment Sales throughout Long Island and the outer boroughs, providing expertise in property valuation and sales.

Notably, Lufthansa, the German-based airline company, has been present on Long Island since the 1970s. The building, with its six stories of glass and steel, offers views of Eisenhower Park and the Meadowbrook Parkway. In addition to its historical significance, The Lufthansa Building also made an appearance in Martin Scorsese's film, Goodfellas, featuring in the "Lufthansa Heist" scene. This scene depicts the infamous robbery at JFK Airport in 1978, where approximately $5.875M was stolen, making it the largest cash robbery committed on American soil at the time.

For further information or inquiries regarding building or portfolio valuations, please reach out to Team Abbondandolo directly at [email protected] or by phone at 631-425-1232.