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191 Forest Avenue

Thomas Breman & Michael Rant Acquire Office Building In Locust Valley For $1.2M
SOLDRetail

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

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:

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.

Players

Luca DiCiero

NY Space Finders

Broker

$128.9M

vol

155 deals

Broker

Thomas Breman

Buyer

$1.2M

vol

1 deal

Buyer

Vincent Jachetta

Seller

$1.2M

vol

1 deal

Seller

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