Five Point Real Estate brokers $2.04 million sale of 10,000 s/f Patchogue property

Patchogue, NY Five Point Real Estate handled the sale of 159 W. Main  St. for $2.04 million.

The 10,000 s/f building–home to Bargain Bilge Marine Supply for more than three decades–was sold in a deal arranged by Five Point Real Estate to ABH Realty Group Inc., which plans to redevelop the site for a national retailer. The sale closed on Feb. 12.

The property, on more than a half-acre at the corner of West Main St. and Holbrook Rd., is directly opposite the Anheuser-Busch-owned Blue Point Brewery, which has become a destination for visitors to the rapidly growing village’s downtown cultural and entertainment scene.

The building had been on the market for about six months, according to Five Point managing partner Guy Canzoneri, who along with associate broker Jerry Mancini represented the seller, George Emerick.

“Once we nailed down the uses that the village would support and advised the seller on the highest price and best use in order to get to a closing, finding a developer was not difficult,” Canzoneri said. “There was a lot of interest in the location from numerous developers.” Canzoneri also represented the buyer.

Emerick, the seller, operated his Bargain Bilge from this location for 35 years.  The two-story building was constructed in 1930.