Thomas Breman & Michael Rant Acquire Office Building In Locust Valley For $1.2M
191 Forest Avenue
$1,200,000
$244/SF
Building Size
4,900 SF
Asset Type
Retail
Closing
Jun 30, 2026
About this deal
AI
The asset involved in the transaction is an office building located at 191 Forest Avenue in Locust Valley. The sale price was $1,200,000, with a total square footage of 4,900, resulting in a price per square foot of $244.
Summary of transaction details:
- Property Type: Office Building
- Transaction Amount: $1,200,000
- Address: 191 Forest Avenue
- Market: Locust Valley
- Square Footage: 4,900
- Price Per Square Foot: $244
- Buyer: Thomas Breman & Michael Rant
- Seller: Vincent Jachetta & James G. Jachetta
- Brokers: Luca DiCiero, Giuseppe Gregorio & Nicholas Evangelista - NY Space Finders
The transaction featured key individuals, including buyers Thomas Breman and Michael Rant, alongside sellers Vincent Jachetta and James G. Jachetta. The brokers facilitating the deal were Luca DiCiero, Giuseppe Gregorio, and Nicholas Evangelista, representing the buyers through NY Space Finders.
On the Map
$1,200,000
$244/SF
Retail
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Players
Locust Valley Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93