Abdul Nabi Acquires Retail Property In Amityville For $2.185M

A retail property located at 141 Merrick Road in Amityville, NY recently changed hands in a sale transaction. The property spans over 8,340 square feet and was sold for a price of $2,185,000. This translates to a price per square foot of $262.

Summary of transaction details

• Property Type: Retail
• Sale Price: $2,185,000
• Square Footage: 8,340
• Price per Square Foot: $262
• Date: 08/16/2023
• Address: 141 Merrick Road, Amityville, NY
• Market: Amityville
• Buyer: Abdul Nabi
• Seller: Frank Ianno
• Brokers: Blake Benitez & Amanda Gordon - Silber Investment Properties

This transaction was facilitated by Blake Benitez and Amanda Gordon of Silber Investment Properties. Blake represented the seller, Frank Ianno, while Amanda represented the buyer, Abdul Nabi. It's worth mentioning that the deal was structured as an owner financing arrangement. Additionally, the transaction resulted in a 6.4% capitalization rate based on the net operating income (NOI). For any retail strip deals in the Tri-State area, Blake and Amanda can be contacted as they have proven their ability to obtain above-market prices even in high interest markets.