Cushman & Wakefield's Team Abbondandolo Represents AJM RE On $11.8M Acquisition Of Massapequa Retail Property

The property involved in this transaction is a retail asset located at 1000 Sunrise Hwy, Massapequa, NY. It encompasses a total area of 42,984 square feet and has been sold for $11,800,000. The price per square foot stands at $274, and the market is categorized as Southeast Nassau. The building is a two-story multi-tenant commercial structure that will be converted into a medical facility by the buyer.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $11,800,000
• Square Footage: 42,984
• Price Per Square Foot: $274
• Buyer: AJM RE - Adam Mann
• Seller: Kennedy Lewis
• Buyer’s Representative: Dan Abbondandolo, Connor Sullivan, Joegy Raju, Rob Cullen, Joe Musso & Victor Little (TeamAbbondandolo) - Cushman & Wakefield
• Seller’s Representative: Scott Plasky & William Stephan - Marcus & Millichap

This transaction was facilitated by Cushman & Wakefield’s Team Abbondandolo, who represented the buyer in the acquisition. The transaction was notably complex due to a deed-in-lieu execution, necessitating a renegotiation of terms that ultimately led to a successful closing. The seller was represented by Scott Plasky and William Stephan from Marcus & Millichap.