Rochlin Organization brokers $6m for Lighthouse Real Estate Ventures

West Hempstead, NY The Rochlin Organization handled the sale of 60 Hempstead Ave. The $6 million sale was coordinated on the Ten-X platform.

60 Hempstead Ave. is a multi-tenanted, 72,000 s/f, seven-story building that had served as the headquarters for the seller, Lighthouse Real Estate Ventures, Inc. The building, known as The Bank of America building, was 37% occupied at the time of the sale.

The team of Adam Rochlin, Michael Levenstein, Michael Rosenfeld, and Maxx Rochlin represented the seller in the transaction.

“The building has a very rich history” said Levenstein. “Located within what was known as the Hempstead Financial District, 60 Hempstead had been known as the headquarters of Franklin National Bank (and its successors). The building’s unique shape, its location within walking distance to the West Hempstead LIRR Train Station, and its clock-towered peak, makes this building a historic location in the area.”

The purchaser understood the opportunity to improve the asset and renovate the building inside and out. “Recognizing the single-digit vacancy rate within the surrounding marketplace, Excel felt a little TLC would go a long way in renting the vacant office suites” said Levenstein.