Michael Maffettone, a licensed real estate sales associate with Prudential CRES Commercial Real Estate (Medford, N.Y.), one of the region's premier providers of comprehensive real estate services, recently closed on the sale of 4.14 acres of land located at 1158 Jericho Tpke. The land was sold for $3.825 million. Maffettone represented the buyer, a private investor, with whom he has had a longstanding relationship and represented in prior transactions. Schacker Realty represented the seller. According to Maffettone, plans for how the property will be developed have not yet been finalized.
As in other of his transactions, Maffettone again demonstrated why he is becoming one of the area's fastest-rising commercial real estate brokers. He brought the deal to contract, fully-executed with hard money in just three days.

Prior to joining Prudential CRES, Maffettone served as the branch manager of a competing local real estate firm. During his three and a half year tenure, he led that agency in its increased sales and market share gains and gained him consecutive "Multimillion Dollar Producer" awards in 2005 and 2006. His accomplishments also earned him a 2005 nomination by Realtor Magazine for the prestigious "Top 30 under 30" award. Tags: