SOLD
Ken Maurer Acquires Retail Property In West Hempstead, Long Island For $5.65M
814 Hempstead Avenue
Retail
10,125 SF
10,125 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Retail
10,125 sqft
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.
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Stephen R. Preuss & Kevin Louie
DATE: 04/08/2022
ADDRESS: 814 Hempstead Ave.
MARKET: West Hempstead, Long Island
ASSET TYPE: Retail
BUYER: Ken Maurer
SELLER: Durso Family
SELLER’S REP: Stephen R. Preuss (@RipcoInvestmentSales), Kevin Louie (@Kevin.Louie_Investment_Sales) & Gene Spiegelman - Ripco
SALE PRICE: $5,650,000
SF: 10,125 ~ PPSF: $558
NOTE FROM BROKER: NN-Leased CVS with 10 years left on the remaining term. Sold to a 1031 buyer at 4.9% capitalization rate.View on map
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Address814 Hempstead Avenue
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