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Elie Balazadeh Acquires Retail Office Property In Great Neck For $2.5M With Financing From Malve Capital

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SOLD
$2,700,000

New York

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Retail9,000 SF
Sold 06/10/2025
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Property Image
SOLD

Elie Balazadeh Acquires Retail Office Property In Great Neck For $2.5M With Financing From Malve Capital

653 655 Middle Neck Road

See Similar Deals
Retail9,000 SF
Sold 06/10/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$300
Total Square Footage:9,000 SF
Transaction Type:Sale

The asset involved in this transaction is a retail/office property located at 653-655 Middle Neck Road in Great Neck, Long Island. The sale price was $2,500,000 for a total area of 9,500 square feet, amounting to a price per square foot of $263.

Summary of transaction details:

  • Property Type: Retail/Office
  • Transaction Amount: $2,500,000
  • Buyer: Elie Balazadeh
  • Lender: Aryia Bala - Malve Capital
  • Square Footage: 9,500
  • Price Per Square Foot: $263
  • Market: Great Neck, Long Island

Michael Khodadadian sourced the acquisition for the buyer and is partnering with Elie Balazadeh to open another branch of YouOffice Private Office Suites at this new location. This new branch will be the fifth location for YouOffice in the Great Neck area, reflecting the ongoing expansion efforts of the duo who are actively seeking more purchasing opportunities.

Players

Aryia Bala
Malve Capital
Aryia Bala
13 deals$17.8M volume
LENDER
Malve Capital
Malve Capital
LENDER

Details

SOLD
IMAGE: Aryia Bala, Elie Balazadeh & Michael Khodadadian DATE: 6/11/2025 ADDRESS: 653-655 Middle Neck Road MARKET: Great Neck, Long Island ASSET TYPE: Retail/ Office BUYER: Elie Balazadeh (@Elie_Balazadeh) LENDER: Aryia Bala - Malve Capital (@MalveCapital) SALE PRICE: $2,500,000 SF: 9,500 ~ PPSF: $263 NOTE FROM BUYER: Michael Khodadadian sourced the acquisition and is teaming up with Elie Balazadeh to open another branch of YouOffice Private Office Suites at this new 9500 square foot location. This would mark YouOffice’s 5th location in Great Necks surging office market and the duo are still looking for more opportunities to purchase and expand. NOTE FROM LENDER: Malve Capital is proud to have recently provided financing for a commercial property located in a growing market on Long Island, NY. As a nationwide balance sheet lender, we offer flexible financing solutions across a broad range of asset types and loan structures. Reach out via [email protected] to learn how we can support your next transaction. Reach out to: Aryia Bala - Malve Capital LLC [email protected] (866) 622-0629

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53