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Brokerage
Posted: May 16, 2023
Cushman & Wakefield arranges sale of 552,341 s/f development site for $3.95 million
Medford, NY Cushman & Wakefield arranged the sale of a 552,341 s/f development site located at 590 Long Island Ave. The sale price was $3.95 million.
Cushman & Wakefield’s Daniel Abbondandolo and Rob Cullen represented the seller, Mary Spina Realty, Inc. and Philip Spina Realty, Inc., in the transaction. David Pennetta and Stephen Cadorette, also of Cushman & Wakefield, represented the buyer, Blue Sky Endeavors, LLC.
“We are thrilled to have arranged the transaction of 590 Long Island Ave.,” said Abbondandolo. “The transaction could never have come to fruition if it wasn’t for a very patient seller and committed buyer. As all land deals on Long Island have their nuances, this transaction represents the tremendous development opportunities Suffolk County offers. The site is comprised of two adjacent parcels, with over 12 acres that is slated for renewable and sustainable energy development. Positioned along Long Island Expressway South Service Rd., the property boasts unparalleled direct frontage and outstanding accessibility.”
The 12.68-acre site is divided into two main lots and offers commercial, industrial or storage redevelopment opportunities. The site hass over 838 ft. of frontage on Long Island Express Dr.
The property is located at Exit 65 on Long Island Expressway Dr., allowing for access to the surrounding areas.
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