Valley Stream School District Acquires Office Asset From IMAX For $6.4M With Brokers Levenstein And Rochlin

The asset involved in this transaction is an office building located at 10 5th Street in the Valley Stream market. The property encompasses 29,000 square feet and consists of 12 units. The final sale price for the asset was $6,400,000, resulting in a price per unit of $533,333 and a price per square foot of $220.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $6,400,000
• Address: 10 5th Street
• Market: Valley Stream
• Units: 12
• Square Footage: 29,000
• Price Per Unit: $533,333
• Price Per Square Foot: $220
• Buyer: Valley Stream School District - Damian Racanelli
• Seller: IMAX
• Brokers: Michael Levenstein & Adam Rochlin - The Rochlin Organization

This transaction involved significant players in the real estate market, with Damian Racanelli representing Valley Stream School District as the buyer and IMAX as the seller. Michael Levenstein and Adam Rochlin of The Rochlin Organization acted as the brokers facilitating the transaction. The broker noted, "We learned a lot on this one."