An industrial property in Deer Park has sold for $8 million.
Hoboken, N.J.-based Faropoint purchased the 40,000-square-foot building on 2.2 acres at 105 E. Jefryn Blvd.
The deal was a sale/leaseback with the seller, Jefryn Park Realty LLC, an affiliate of Nanz Custom Hardware, which will now be leasing the property. Nanz is a manufacturer of doorknobs, hinges, handles, locks, latches and related metal hardware. The Nanz Company operates showrooms in Manhattan, Los Angeles, Miami, Boston and London, with additional sales representation in Chicago and San Francisco, according to its website.
Founded in 2012, Faropoint is a commercial real estate investment firm that focuses on last-mile warehousing and distribution facilities. The company’s portfolio has more than 40 properties totaling over 20 million square feet in the U.S.
The Deer Park property is Faropoint’s second acquisition on Long Island. The company also owns a 24,000-square-foot building in the Heartland Business Center at 180 Heartland Blvd. in Edgewood.
“We are proud to announce the acquisition of 105 E Jefryn, marking our second industrial acquisition on Long Island,” said Sam Horowitz, director of acquisitions for Faropoint. “This transaction demonstrates our strong conviction in the robust fundamentals of the Long Island industrial market. We are actively seeking further opportunities to expand our footprint in this dynamic region.”
Faropoint was self-represented in the Deer Park sales transaction, while the seller, Jefryn Park Realty LLC, was represented by Tommy Rosati, Brandon Lichtenstein and Jason Maietta of Colliers.
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