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Mr. Babu Patel Acquires Retail Property In Nassau County, Long Island For $1.89M

Property Image
SOLD
$1,890,000
Rob Cullen
Joe Musso
+ 3

New York

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Retail3,240 SF
Sold 04/22/2022
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Property Image
SOLD

Mr. Babu Patel Acquires Retail Property In Nassau County, Long Island For $1.89M

253 Post Avenue, New York City, New York 10034, United States

See Similar Deals
Retail3,240 SF
Sold 04/22/2022
Rob Cullen
Joe Musso
+ 3
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$583
Total Square Footage:3,240 SF
Transaction Type:Sale

The retail property located at 253 Post Ave. in Nassau County, Long Island has been sold for $1,890,000. The building spans 3,240 square feet, resulting in a price per square foot of $583. The transaction took place on 04/22/2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $1,890,000
  • Address: 253 Post Ave.
  • Market: Nassau County, Long Island
  • Square Footage: 3,240
  • Price per Square Foot: $583

Mr. Babu Patel was the buyer of the property, represented by Jerry Mancini from Five Points RE. The seller was represented by Daniel Abbondandolo, Joegy Raju, Rob Cullen, Joe Musso, and Victor Little from Cushman & Wakefield. The building was fully occupied with two long-term tenants, Dunkin' Donuts and Adesso Salon. Its location is favorable, being within walking distance to the Westbury Long Island Train Station and The Space - Concert & Music Hall. The $583 per square foot sale price sets a record for the area, showcasing the newly revitalized Downtown Westbury.

Note from @CushWake: TEAMABBONDANDOLO successfully represented the seller in the disposition of 253-255 Post Avenue, Westbury, NY. The building traded hands for $1,890,000. $583 Per Sq. Ft. 6.48% Cap Rate. The price per square foot is a record sales metric for the area which is a testament to the newly revitalized Downtown Westbury. The asset was delivered fully occupied with two long term tenants - Dunkin' Donuts & Adesso Salon. The building is within walking distance to the Westbury Long Island Train Station & The Space - Concert & Music Hall.

Players

Daniel Abbondandolo
84 deals$509.6M volume(631) 425-1232
BROKER

Joegy Raju
Cushman & Wakefield
43 deals$302.6M volume
BROKER

Rob Cullen
Cushman & Wakefield
17 deals$102.1M volume
BROKER

Joe Musso
Cushman & Wakefield
19 deals$104.4M volume
BROKER

Victor Little
Cushman & Wakefield
29 deals$165.3M volume(631) 425-1239
BROKER

Jerry Mancini
Five Point Real Estate
3 deals$14.6M volume
BROKER

Details

SOLD
IMAGE: Victor Little, Joe Musso & Jerry Mancini DATE: 04/22/2022 ADDRESS: 253 Post Ave. MARKET: Nassau County, Long Island ASSET TYPE: Retail BUYER: Mr. Babu Patel BUYER’S REP: Jerry Mancini - Five Points RE (@FivePointRealEstate) SELLER’S REP: Daniel Abbondandolo (@TeamAbbs), Joegy Raju (@JoegyRaju), Rob Cullen, Joe Musso (@JMusso_85) & Victor Little (@Victor.R.Little) - Cushman & Wakefield (@CushWake) SALE PRICE: $1,890,000 SF: 3,240 ~ PPSF: $583 NOTE FROM @CushWake: TEAMABBONDANDOLO successfully represented the seller in the disposition of 253-255 Post Avenue, Westbury, NY. The building traded hands for $1,890,000. $583 Per Sq. Ft. 6.48% Cap Rate. The price per square foot is a record sales metric for the area which is a testament to the newly revitalized Downtown Westbury. The asset was delivered fully occupied with two long term tenants - Dunkin' Donuts & Adesso Salon. The building is within walking distance to the Westbury Long Island Train Station & The Space - Concert & Music Hall.

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