Michael Khodadadian Of Silverrock Equities LLC Acquires Retail Office Building In Great Neck For $8M

A retail/office building was sold for $8,000,000, located at 10 Bond Street in Great Neck. The asset encompasses 20,000 square feet, translating to a price per square foot of $400. The property features 8 retail tenants occupying 10,000 square feet, including notable businesses such as the high-end jeweler Phigora, Star Spa, and the UPS Store, along with an additional 10,000 square feet of luxurious office space located on the second floor. It is situated at one of the most vibrant corners, adjacent to trendy restaurants and just steps away from the LIRR.

Summary of transaction details:

• Property Type: Retail / Office
• Transaction Amount: $8,000,000
• Buyer: Michael Khodadadian - Silverrock Equities LLC
• Seller: Peter Andreasian
• Mortgage Broker: Baruch Pelcovitz - Woodacre Capital
• Loan Amount: $4,600,000
• Square Footage: 20,000
• Price per Square Foot: $400

The transaction involves key individuals including Michael Khodadadian, who has made this acquisition as part of his strategy to expand his portfolio in Long Island, marking his seventh acquisition in the area. This purchase signifies the fourth acquisition in the Great Neck office market aimed at bolstering his coworking brand, YouOffice.com. Baruch Pelcovitz acted as the mortgage broker through Woodacre Capital, facilitating the financing for this strategic real estate investment.