Coté of Sovereign Realty Group reps seller in $4.165 million sale of 5,464 s/f property occupied by Applebees

August 07, 2018 - Long Island
Clem Coté,
Sovereign Realty Group LLC

 

Adam Silber,
Silber Investment Properties

 

New Hyde Park, NY Sovereign Realty Group LLC and Silber Investment Properties Ltd have arranged the sale of a free-standing Applebee’s located at 1985 Jericho Tpke., at the corner of Leonard Blvd. for $4.165 million.

The property is 5,464 s/f on 1.47 acres and has been triple net leased to Applebees since 1995. The selling price represented a 5% cap rate.

Clem Coté of Sovereign Realty Group represented the seller, BLIMA LLC. The buyer, Lighthouse Commons LLC was represented by Adam Silber and Chinho Park of Silber Investment Properties.

1985 Jericho Turnpike - New Hyde Park, NY

 

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