Northwell Health Acquires Office Asset From Sheldon Berkeley For $9.5 Million In Merrick
1728 Sunrise Highway
$9,500,000
$536/SF
Building Size
17,714 SF
Asset Type
Office
Closing
Feb 9, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 1728 Sunrise Highway in Merrick. The sale price for this transaction was $9,500,000, with the property encompassing 17,714 square feet, resulting in a price per square foot of $536.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,500,000
- Buyer: Northwell Health
- Seller: Sheldon Berkeley
- Seller's Representative: Tom Bigansky - North Village Realty
- Square Footage: 17,714
- Price per Square Foot: $536
- Date of Transaction: 2/10/2026
- Market: Merrick
This transaction was facilitated by Tom Bigansky of North Village Realty, who represents the seller. North Village Realty specializes in the properties of Long Island and successfully closed this off-market transaction following a highly competitive bidding process. The asset had approximately three years remaining on its lease term.
On the Map
$9,500,000
$536/SF
Office
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Merrick Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93