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Brokerage
Posted: October 5, 2021
Silber Investment Properties brokers Long Island sales totaling $7.35 million
Plainview, NY Silber Investment Properties brokered the following transactions:
Anthony Ciafardoni of Silber Investment Properties represented the seller, Estate of Milton Dodd for the sale of a CVS located at 2145 Bellmore Ave., Bellmore. Stuart Frankel and Sam Judd of Silber Investment Properties represented the purchasers, Sassoon Real Estate out of Manhattan. The lease expires in 2023 and was sold at 6.1% cap rate. The sale price was $3.85 million.
Adam Silber of Silber Investment Properties represented the seller, Hempstead Realty, LLC in the sale of a Burger King located at 500 Fulton Ave., Hempstead. Marcus and Millichap represented the purchaser, Hempstead BK Property LLC in this transaction. The building sits on .53 acres and is 2,412 s/f. The NOI is $158,000 and was sold for $3.5 million which represents a 4.5% cap rate. There are 17 years remaining on this corporate-backed lease.
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