John Varghese & Abraham Philip Acquire 5 Unit Retail Strip In Elmont For $1.45M

A 5 unit retail strip with parking located at 739-741 Elmont Rd in Elmont has been sold for $1,455,000. The property spans 4,381 square feet, resulting in a price per square foot of $332. The transaction took place on 07/18/2019.

Summary of transaction details

• Property Type: 5 unit retail strip
• Transaction Amount: $1,455,000
• Square Footage: 4,381
• Price per Square Foot: $332
• Address: 739-741 Elmont Rd
• Market: Elmont

The buyers of the property are John Varghese and Abraham Philip. They acquired the property from Surinder Arora – Durga Management, Inc. The transaction was facilitated by Gurpreet Singh, who represented the buyers as their broker.

This retail strip was fully occupied at the time of the sale, making it an attractive investment opportunity for the buyers.