Centerport, NY American Investment Properties (AIP) handled the sale of 12 Little Neck Rd. The subject was a 3,443 s/f office property in immaculate condition.The property was vacant at the time of the sale.
The sale price was $925,000, which equates to $268.66 per s/f with a projected cap rate of 7.69%.
Ron Koenigsberg and Bill Katz of AIP marketed the property on behalf of the seller. Koenigsberg and Katz found a buyer through a co-operating broker, Eric Kave, of Meadow Realty Consultants. The buyer will be using this office asset as an investment property.
According to Koenigsberg, “Exposure was key to the success of this sale. Our team immediately began marketing the property to our buyer pool, online listing websites, and our broker connections to source interest.”
Strategically, Koenigsberg and Koenigsberg conducted their own virtual video tour of the building showcasing the office spaces, and other pristine amenities featured. “Our marketing team leveraged this content to all potential buyers and across all platforms to transparently showcase the offering,” said Koenigsberg.