Cushman & Wakefield brokers sale of 20,381 s/f mixed use building

Pearl River, NY Cushman & Wakefield announced today that the real estate services firm has arranged the sale of 21 East Central Avenue, a 20,381-square-foot, mixed use property. The final was price was $4.1 million. 

A Cushman & Wakefield team of Andy Schwartz, Jordan Sobel and Andre Balthazard represented the seller, Skyview Plaza, LLC, and procured the buyer, a private investor, in the transaction.

“21 East Central Ave. offered investors the opportunity to acquire a mixed use asset that is nearly fully leased,” said Schwartz. “We saw significant interest in this property because of its ideal location within a great walkable downtown that offers shops, dining and other amenities and is just steps away from the train.”

The asset features 14 residential apartment units above four commercial retail units, with total occupancy at 95%. The residential apartments feature 12 one bedroom, one-bath units and two two-bedroom, one-and-a-half bath units.  Renovated in 2010, the property features stainless steel appliances, solid wood cabinets and hardwood floors.

Strategically located, the property is surrounded by many dining and retail establishments within walking distance. The asset is one block away from the Pearl River train station.