Dave Patel Acquires Retail Property At 840 Old Country Road From Peter Moutafis For $8M

The asset involved in this transaction is a retail property located at 840 Old Country Road in Riverhead. It was sold for a total amount of $8,000,000. The property encompasses a total square footage of 11,000, resulting in a price per square foot of $727.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,000,000
• Address: 840 Old Country Road
• Market: Riverhead
• Square Footage: 11,000
• Price Per Square Foot: $727
• Buyer: Dave Patel
• Seller: Peter Moutafis
• Buyer's Representative: Benjamin Zone - Meridian Capital Group
• Seller's Representative: Gary Pezza - DGNY Commercial

The transaction included key representatives from the commercial real estate sector. Benjamin Zone represents the buyer, Dave Patel, through Meridian Capital Group, while Gary Pezza represents the seller, Peter Moutafis, through DGNY Commercial.