Ken Maurer Acquires Retail Property In West Hempstead, Long Island For $5.65M

An NN-Leased CVS retail property located at 814 Hempstead Ave. in West Hempstead, Long Island, has been sold for $5,650,000. The property spans across 10,125 square feet, resulting in a price per square foot of $558. The transaction took place on 04/08/2022.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $5,650,000
• Address: 814 Hempstead Ave.
• Market: West Hempstead, Long Island

The buyer of the property is Ken Maurer, while the seller is the Durso Family. Representing the seller in this deal were Stephen R. Preuss, Kevin Louie, and Gene Spiegelman from Ripco. The transaction was facilitated by a 1031 buyer, emphasizing a 4.9% capitalization rate with 10 years remaining on the CVS lease. This information was provided by the broker involved in the deal.