Ed Brown Of EB Foundation Acquires Office Property From Dr. Martin Hanler For $3.35M
38 Northern Boulevard
$3,350,000
$389/SF
Building Size
8,600 SF
Asset Type
Office
Closing
Feb 10, 2026
AI
The property asset involved in this transaction is an office located at 38 Northern Boulevard in Great Neck. The sale price for the property was $3,350,000, with a total square footage of 8,600, resulting in a price per square foot of $389.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,350,000
- Address: 38 Northern Boulevard
- Market: Great Neck
- Buyer: Ed Brown – EB Foundation
- Seller: Dr. Martin Hanler
- Brokers: Marc Berkowitz & Maxx Rochlin - The Rochlin Organization
The deal involved Ed Brown representing the EB Foundation as the buyer and Dr. Martin Hanler as the seller. The brokers facilitating the transaction were Marc Berkowitz and Maxx Rochlin from The Rochlin Organization. A note from the broker extended congratulations to the buyer on successfully closing this transaction, highlighting the buyer's recognition of long-term value and decisive action.
Players
Great Neck 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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93