Etessami of Silber Investment Properties reps buyer in $29.75 million sale

 

 

Mount Sinai, NY United Properties Corp., represented by Silber Investment Properties (SIP), has acquired the Mt. Sinai Shopping Center located at 5501 Nesconset Hwy. for $29.75 million from Mt. Sinai Shopping Center, Inc. 

This property, anchored by King Kullen, consists of 101,000 s/f retail and 23,000 s/f of professional office space and sits on 14 acres at the merge of New York Rte. 25A and New York Rte. 347. In addition, the property is situated to serve as the closest retail and grocery center for the new Mt. Sinai Meadows, an estimated 150 town home and mixed use development.

The Mt. Sinai Shopping Center had previously been represented exclusively by a national firm for six months without a successful sale. Silber Investments Properties was successful in brokering a deal in three months. 

“We were very happy to bring this deal to a close. These opportunities are a perfect match for our network of buyers,” said Adam Silber, principal of Silber Investment Properties. “My lead broker on the deal, Aaron Etessami, understands the complexity of transactions such as these and was able to ensure there were no roadblocks.”

Long Island based commercial real estate brokerage SIP specializes in the acquisition and disposition of retail investment properties ranging from multi-million dollar shopping centers to a single tenant chain store. In addition the SIP National Net Leased Division brokers hundreds of Triple-Net (NNN) Properties across the country. Silber Investment Properties has earned a reputation for brokering off-market, in-house transactions, and maintains relationships with REITs, large corporations, family trusts, developers, and private investors.