Beechwood Organization Acquires Former TGI Fridays Retail Property In Westbury For $12.75M

A retail asset located at 829 Merrick Avenue North in Westbury has been sold for $12,750,000. The property covers an area of 10,064 square feet, resulting in a price per square foot of $1,267. The former TGI Fridays location is positioned strategically within the market as Beechwood Organization expands its presence in the area.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,750,000
• Address: 829 Merrick Avenue North
• Market: Westbury
• Buyer: Michael Dubb - Beechwood Organization
• Seller: Matgart Merrick Ave Associates LLC
• Brokers: Brian Schuster, Jeremy Isaacs, Jon Winzelberg & Jason Sobel - Ripco
• Square Footage: 10,064
• Price per Square Foot: $1,267

This transaction marks Beechwood Organization's third restaurant acquisition on Merrick Avenue within a four-year timeframe, as the company continues to expand its operations near the $125 million Selby luxury apartment complex.