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Metropolitan Realty Associates Acquires Industrial Property In Long Island For $14M

5 Inez Drive
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This Industrial property located in NY was sold for $14,000,000 over 2 years ago. The brokers of the deal were Richard Cohen and Mike Ventricelli

The industrial property located at 5 Inez Dr. in Long Island has been sold in a recent transaction. The property spans 94,000 square feet and was sold for a sale price of $14,000,000, resulting in a price per square foot of $148. The transaction took place between Metropolitan Realty Associates, represented by Joseph Farkas, Paul Jaffe, and Angelo Gordon, and Adscott Realty Company, represented by Scott Roth.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $14,000,000
  • Address: 5 Inez Dr., Long Island
  • Market: Long Island

In this deal, Metropolitan Realty Associates, led by Joseph Farkas, Paul Jaffe, and Angelo Gordon, acted as the buyer. They were represented by Michael Ventricelli from Cushman & Wakefield. On the other hand, the seller, Adscott Realty Company, was represented by Richard Cohen from Ashlind Properties.

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Deals
  • Location
    5 Inez Drive, Bay Shore, New York 11706, United States5 Inez Drive, Bay Shore, New York 11706, United States
  • Sale Price
    $14,000,000$14,000,000
    $148 PPSF$148 PPSF
  • Area
    94,000 SF94,000 SF
  • Asset Type
    IndustrialIndustrial
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Richard Cohen

Richard Cohen

Deals3
Sold$33.7M

Agency

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

Deal Summary

SALE IMAGE: Joseph Farkas, Paul Jaffe & Angelo Gordon DATE: 08/06/2021 ADDRESS: 5 Inez Dr. MARKET: Long Island ASSET TYPE: Industrial BUYER: Metropolitan Realty Associates - Joseph Farkas, Paul Jaffe & Angelo Gordon SELLER: Adscott Realty Company - Scott Roth BUYER’S REP: Michael Ventricelli - Cushman & Wakefield SELLER’S REP: Richard Cohen - Ashlind Properties ASKING PRICE: $17,500,000 SALE PRICE: $14,000,000 SF: 94,000 ~ PPSF: $148

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5 Inez Drive

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