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1 Old Country Road

LEASEDOffice

Department Of War Signs 10-Year Lease For 23,600 Square Feet Office In Carle Place

1 Old Country Road

Building Size

23,600 SF

Asset Type

Office

Closing

Jul 14, 2026

AI

The asset at 1 Old Country Road in Carle Place consists of an office property with a total area of 23,600 square feet. This property is leased by the Department of War under a 10-year lease agreement. The landlord for this transaction is DBD Realty Group.

Summary of transaction details:

The Department of War is set to open a regional office at the location in early 2027 following a custom buildout. Lee & Associates NYC represented the landlord DBD Realty Group in this transaction, while CBRE acted on behalf of the tenant, the Department of War.

Players

Kelly Koukou

Lee & Associates

Broker

$49.4M

vol

9 deals

Broker
DG
DBD Realty GroupBuyer
DG
DBD Realty GroupLandlord

Carle Place Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93