News: Brokerage

Marcus & Millichap brokers $7.1 million sale of multi-tenant office building

200 and 220 S Service Road - Roslyn, NY

Roslyn, NY Marcus & Millichap brokered the sale of 200 and 220 S Service Rd. The multi-tenant office properties sold for a total of $7.1 million.

Michael Tuccillo and Anthony Cerrone of Marcus & Millichap represented the seller and buyer for 200 S. Service Rd., while Global Realty Services USA procured the private buyer.

“200 and 220 S Service Rd. combine unmatched highway visibility, immediate access to the Long Island Expwy. and a prestigious Roslyn Heights address within one of Long Island’s most affluent customer bases,” said Tuccillo. “The site is well positioned for long-term success, reinforced by pricing achieved just below the asking price.”

The properties total 28,714 s/f on a 1.54-acre parcel and are configured for multi-tenant office use. They are occupied by a mix of professional tenants with staggered lease expirations.

Located off Exit 39 of the Long Island Expwy. which sees more than 214,000 vehicles per day, and near Exit 28 of the Northern State Pkwy., the properties offer regional connectivity and are one mile from the Roslyn Long Island Rail Road station.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their