Cushman & Wakefield Sells Manhasset Medical Office Building For $3.7M

446-450 Plandome Road in Manhasset, NY has been sold in a closed transaction. The asset is an 8,284 square foot office building located in the Western Nassau market. The property was fully occupied at the time of the sale and sits on a 19,889 square foot lot with 30 private parking spaces. The sale price for this medical office building was $3,700,000, resulting in a price per square foot of $447. The transaction had a cap rate of 6.23%.

Summary of transaction details

• Property Type: Office
• Sale Price: $3,700,000
• Square Footage: 8,284
• Price Per Square Foot: $447
• Cap Rate: 6.23%

The seller, Dr. Michael Errico, enlisted the services of Daniel Abbondandolo, Rob Cullen, Joegy Raju, Joe Musso, and Victor Little, who are representatives from Cushman & Wakefield, to facilitate the sale of 446-450 Plandome Road. This well-maintained and fully occupied medical office building attracted strong investment interest due to its stable income potential and highly desirable location on Plandome Road. The property is conveniently located just a 5-minute walk or 2-minute drive from the Manhasset LIRR station.

For more information about this transaction, you can contact the team at [email protected].