496 Main St., Islip
Golden Peruvian Real Estate LLC purchased a two-story, 7,990-square-foot mixed-use building on .20 acres at 496 Main St. in Islip for $2.2 million. The property is occupied by the Mango Tango restaurant on the first floor, and the second floor is currently used as storage space. The sale price equates to about a 7 percent cap rate. The new owner purchased the property as an investment with the end goal to one day operate his restaurant at the property, according to one of the brokers on the deal. Jason Merrell and Michael Gronenthal of Douglas Elliman Commercial represented the buyer, as well as the seller, Ichiban II Inc., in the sales transaction.
390 Jericho Turnpike, Syosset
Kalra Property Group LLC, an affiliate of a local commercial real estate investor, purchased a 5,850-square-foot, multi-tenant retail building on .75 acres at 390 Jericho Turnpike in Syosset for $5.2 million. The fully occupied property has three tenants, including Starbucks, Optimum and Kiddsmiles Pediatric Dentistry. The sale price equates to a 6.33 percent cap rate. Raj Whadwa and Mani Nagpal of Global Realty Services represented the buyer, while Jon Winzelberg and Tom Rettaliata of RIPCO Real Estate represented the seller, Syview LLC, an affiliate of Apple Bank, in the sales transaction.
217 Knickerbocker Ave., Bohemia
Quench Inc. Leased 2,700 square feet of industrial space at 217 Knickerbocker Ave. in Bohemia. Michael Zere of Zere Real Estate Services represented the tenant, as well as the landlord, CWJ Management Ltd., in the lease transaction.
55 St. Mary’s Place, Freeport
55 St. Mary’s Place LLC, an affiliate of a Lindenhurst-based commercial real estate investor, purchased a 13,200-square-foot industrial building on .37 acres at 55 St. Mary’s Place in Freeport for $2.15 million. The property was delivered vacant. Chris Cardenas of Paramount Properties Group represented the buyer, while Louis Fisher of Douglas Elliman Commercial represented the seller, 55 St. Mary’s LLC, in the sales transaction. Paramount Properties Group is currently marketing the property for lease.
DAVID WINZELBERG
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