SOLD
Cushman & Wakefield's Team Abbondandolo Represents AJM RE On $11.8M Acquisition Of Massapequa Retail Property
1000 Sunrise Highway
Retail
42,984 SF
42,984 SF
Sold 1 year ago
Summary
Sale
NEW YORK
Retail
42,984 sqft
1000 Sunrise Highway in Massapequa, NY has been sold in a transaction valued at $11,800,000. This multi-tenant commercial building spans 42,984 square feet and is located in the Southeast Nassau market. The property, situated on a prime location, was purchased by a developer with plans to convert it into a medical facility. The deal concluded with a price per square foot of $274.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,800,000
- Address: 1000 Sunrise Highway
- Market: Southeast Nassau
- Square Footage: 42,984
Cushman & Wakefield's Team Abbondandolo represented the buyer, AJM RE, in this acquisition. The buyer's team included Dan Abbondandolo, Connor Sullivan, Joegy Raju, Rob Cullen, Joe Musso, and Victor Little. On the seller's side, Scott Plasky and William Stephan of Marcus & Millichap represented Kennedy Lewis. The transaction faced challenges due to a deed-in-lieu, which added complexity to the deal. However, the committed team persevered and successfully renegotiated the terms, ultimately leading to a successful closing. For more information about this transaction, please reach out to the team directly.
Players
All
10
Agents
8
Agencies
2
Details
SOLD
IMAGE: Dan Abbondandolo, Joegy Raju, Scott Plasky & William Stephan
DATE: 09/09/2022
ADDRESS: 1000 Sunrise Hwy.
MARKET: Southeast Nassau
ASSET TYPE: Retail
BUYER: AJM RE - Adam Mann
SELLER: Kennedy Lewis
BUYER’S REP: Dan Abbondandolo (@TeamAbbs), Connor Sullivan (@Jammin32), Joegy Raju (@JoegyRaju), Rob Cullen, Joe Musso (@JoeMusso) & Victor Little (@Victor.R.Little) (TeamAbbondandolo) - Cushman & Wakefield (@CushWake)
SELLER’S REP: Scott Plasky (@PlaskyRetailGroup) & William Stephan - Marcus & Millichap
SALE PRICE: $11,800,000
SF: 42,984 ~ PPSF: $274
NOTE FROM BROKER: Cushman & Wakefield’s Team Abbondandolo successfully represented the Buyer in the acquisition of 1000 Sunrise Highway, Massapequa, NY – a 42,984 sq. ft. multi-tenant commercial building. The two-story asset was sold to a developer who intends on converting the property into a medical facility. 1000 Sunrise Highway traded hands for $11,800,000 – $275 per sq. ft. The transaction became very challenging as a deed-in-lieu was executed which added a real twist to the deal. With perseverance & a committed team, we were able to renegotiate the transaction which resulted in a successful closing. For more information about this transaction, please reach out to the team directly.View on map
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Address1000 Sunrise Highway
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