David Noor Acquires Retail Property At 284 North Broadway In Hicksville For $4.01M

A prime 4,845 sq. ft. free-standing retail building located at 284 North Broadway in Hicksville has been sold for $4,010,000. The property, positioned on North Broadway (S.R. 106/107), offers direct access to a major commercial route in eastern Nassau County. Situated on a spacious 29,900 sq. ft. lot, the property features ample parking and a drive-thru lane, enhancing its diverse potential uses. The asset traded at a rate of $894 per square foot, attracting a competitive market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $4,010,000
• Square Footage: 4,845
• Price per Square Foot: $828
• Date: 01/19/2024
• Address: 284 North Broadway, Hicksville
• Market: Hicksville

The buyer of the property is David Noor, while the seller is JPMorgan Chase. The buyer was represented by Nick Masson from TSCG (The Shopping Center Group), who acted on behalf of Scgretail. On the other hand, the seller was represented by Daniel Abbondandolo and Joegy Raju from Cushman & Wakefield. It was Cushman & Wakefield's Long Island Capital Markets team that successfully represented JPMorgan Chase in the disposition of the property.

As per the note from the seller's representative, the strategic positioning of the property, coupled with its diverse potential uses, played a significant role in attracting a competitive market.