Massey Knakal sells Long Island development site for $2.5 million

Massey Knakal Realty Services has sold an entire blockfront at 137-42 Guy R. Brewer Blvd. in the Springfield Gardens section of Nassau County, Long Island in an all-cash transaction valued at $2.5 million. The 185' x 59' property is located on the north side of 140th Ave. between 161st St. and Guy R. Brewer Blvd. Currently, the property consists of a 10,915 s/f community-use facility and approximately 17,117 s/f of parking. New ownership must continue to use the property as a community-use facility or use the entire lot as a residential development site. The building was delivered vacant and sold for $229.04 per s/f to a Queens developer. "Due to the unique size and location, we were able to exceed the asking price by $200,000," said Massey Knakal broker Brian Sarath, who exclusively represented the seller with broker Anthony Giannuzzi. Massey Knakal Realty Services and Patrick Mazza of Woodbrook Realty Consultants were the brokers in this transaction.