United Properties Acquires Retail Property In East Meadow For $3.2M

A retail property located at 2031 Hempstead Tpke in East Meadow has been sold for a total of $3,200,000. The property spans across 8,460 square feet, resulting in a price per square foot of $378. The transaction took place on December 14, 2022.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,200,000
• Address: 2031 Hempstead Tpke, East Meadow
• Market: East Meadow
• Square Footage: 8,460 SF
• Price per Square Foot: $378

The buyer of the property was United Properties, while the seller was Eli Cantor. The deal was facilitated by Michael Gronenthal from Douglas Elliman Commercial, serving as the broker.

This transaction marks the first time in over 40 years that the property has changed ownership. The retail center is fully stabilized, boasting long-term tenants and an impressive 8.05% in-place cap rate. For more information about similar opportunities, interested parties can reach out to Michael Gronenthal at [email protected].