Sage Capital Partners Purchases 790 New York Avenue Office Building From Dr. Thomas Arcati For $2.65M

The property asset involved in the transaction is located at 790 New York Avenue in Huntington. This two-story medical/professional office building has a total square footage of 12,000 and traded at a sale price of $2,650,000, which equates to approximately $221 per square foot. The building is situated on a 23,958 square foot lot and includes 20 parking spaces, on-site covered parking on the ground floor, handicap access, and one elevator. It is connected to sewers, offering essential amenities for potential occupants.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $2,650,000
• Address: 790 New York Avenue
• Market: Huntington
• Square Footage: 12,000 SF
• Price Per Square Foot: $221
• Buyer: Sage Capital Partners (Rob DiNoto, Nicholas Girardi, Frank Califano)
• Seller: Dr. Thomas Arcati
• Broker Representatives: Daniel Abbondandolo & Robert Kuppersmith - Cushman & Wakefield
• Future Intent: Reposition the property into a mixed-use building with medical and residential apartments
• Location Advantage: Less than a mile to Huntington Village and 5-blocks north of Huntington LIRR Station

The key individuals involved in the transaction include the buyer, Sage Capital Partners, represented by Rob DiNoto, Nicholas Girardi, and Frank Califano. Dr. Thomas Arcati acted as the seller in the deal. The brokerage team from Cushman & Wakefield, consisting of Daniel Abbondandolo and Robert Kuppersmith, facilitated the transaction, highlighting their expertise in the office property market.