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

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.