Roth of NAI Long Island completes $13.5 million sale at 80-100 Banks Ave.

Ken Roth exclusively represented Darby Group Inc. in the sale of their corporate headquarters campus at 80-100 Banks Ave. to Avalon Bay Communities Inc. Roth formally of Rothwood Real Estate Services, currently affiliated with NAI Long Island, exclusively represented the seller Darby Group Inc. in the sale of the property. The site is 7.2 acres with 172,000 s/f of office and warehouse space. The purchase price was $13.5 million. Roth originally arranged the sale of the property to the Home Depot in February 2000. As a result of site plan issues the contract was broken. The property was then rezoned for residential use and Chase partners contracted to purchase the property. Subsequently, Chase Partners assigned the contract to Avalon Bay Communities who closed on the property and are currently scheduled to build 349 residential units. NAI LI is a commercial real estate organization providing services that cover sales, leasing, tenant/landlord representation, property management and consulting services.