Benedict Lamartine Purchases Office Property From Central Veterinary Associates For $1,750,000
73 West Merrick Road
$1,750,000
$324/SF
Building Size
5,386 SF
Asset Type
Office
Closing
Apr 27, 2026
AI
The property involved in the transaction is an office asset located at 73 West Merrick Road in Valley Stream. It was sold for a price of $1,750,000, encompassing 5,386 square feet, resulting in a price per square foot of $324.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,750,000
- Address: 73 West Merrick Road
- Market: Valley Stream
- Square Footage: 5,386
- Price Per Square Foot: $324
- Buyer: Benedict Lamartine
- Seller: Central Veterinary Associates
- Seller's Representative: Tom Bigansky - North Village Realty
The transaction was completed with the property delivered vacant at closing, and the buyer is expected to undertake substantial capital improvements. North Village Realty is known for its specialization in commercial investment sales across Long Island's South Shore.
Valley Stream 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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93