Pershin of GFI trades TD Bank NNN ground lease for $8 million

East Norwich, NY GFI Realty Services, LLC arranged the $8 million sale of a newly constructed NNN TD Bank. The TD Bank has a 20-year lease with an in-place cap-rate of 4%. Yisroel Pershin, an associate of GFI Realty Services, negotiated both sides of this transaction. The seller is a local developer and the buyer is a 1031 investor. “This transaction represents the  demand and lack of inventory in the NNN credit tenant market,” said Pershin. “As a result of the many strong relationships I have cultivated with developers and buyers over the years I was able to sell this asset at an aggressive 4% cap-rate.” The property is located in East Norwich, NY which is within the Town of Oyster Bay in Nassau County.