Dr. Louis Nkrumah Of Nkrumah NeuroSurgery & Spine Acquires Office Buildings In Mineola For $1.75M
89 East Jericho Turnpike
$1,750,000
$269/SF
Building Size
6,500 SF
Asset Type
Office
Closing
Oct 29, 2025
About this deal
AI
The property involved in the transaction is an office asset located at 89 East Jericho Turnpike in Mineola. The sale price was $1,750,000, comprising two units with a price per unit of $875,000. The total square footage of the buildings is 6,500, resulting in a price per square foot of $269.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,750,000
- Buyer: Dr. Louis Nkrumah - Nkrumah NeuroSurgery & Spine
- Seller: Nassau County Policemen’s Benevolent Association
- Brokers: Eitan Hakami - Greiner-Maltz Real Estate
- Brokers: Christian Standerwick - Berkshire Hathaway Commercial Services
- Units: 2
- Square Feet: 6,500
- Price Per Unit: $875,000
- Price Per Square Foot: $269
Dr. Nkrumah plans to use the two-building portfolio as the flagship headquarters for Nkrumah Neurosurgery and Spine, with intentions for a complete renovation to support specialized medical operations. Eitan Hakami represented the buyer, while Christian Standerwick represented the seller, ensuring a collaborative and efficient closing process.
On the Map
$1,750,000
$269/SF
Office
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Mineola 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