Koenigsberg of American Inv. Props. completes 5,212 s/f center: $1.416m

Ron Koenigsberg of American Investment Properties located in Garden City exclusively represented the sale of 2275-2287 Bellmore Ave. This 5,212 s/f strip center was sold for $1.416 million. This sales price was achieved as a result of an extensive exclusive opportunity. The sales price equated to a capitalization rate of 6.8%. The property is situated on a 14,963 ft. lot and its stores benefit from 100 ft. of frontage on Bellmore Ave. This opportunity al­lowed Koenigsberg and his team to market and negotiate the sale of 2275-2287 Bellmore Ave. with the best outcomes for both the buyer and seller. The buyer is a local investor who purchased this property as a 1031 exchange. The sale was as­sisted by Michael Ferra of Southgate Realty Corp.