Parkoff Organization Acquires Retail Property In Hewlett For $4.1M

16-28 Franklin Avenue, 1205-1215 Station Plaza, and 2 New St in Hewlett have been sold for $4,100,000. The retail property spans across 10,560 square feet with a price per square foot of $388. The cap rate for this transaction is 7.3%.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $4,100,000
• Square Footage: 10,560
• Price Per Square Foot: $388
• Cap Rate: 7.3%
• Market: Hewlett

The Rinzler Family served as the seller in this deal, while the Parkoff Organization, represented by Adam Parkoff, acted as the buyer. The Collaborative Group, represented by Andrew Natter and Harold Fuchs, facilitated the transaction as brokers.