70 Glen Cove Road, East Hills
70 Glen Acquisition LLC, an affiliate of a Queens-based commercial real estate investor, purchased a three-story, 25,000-square-foot office building on .68 acres at 70 Glen Cove Road East Hills for $7.1 million. Constructed in 1966, the building is 96 percent occupied by mostly medical tenants. The sale price equates to a 7.25 percent cap rate. Ian Leigh of Berkshire Hathaway HomeServices Laffey International Realty represented the buyer, while John Chiaramonte and Charles Chiaramonte of Select Investment Properties represented the seller, Gould 70 Glen Cove Road LLC, an affiliate of Great Neck-based Gould Investors LP, in the sales transaction.
53-59 West Main St., Oyster Bay
Kerri Albers purchased a two-story, 5,000-square-foot building on .09 acres at 53-59 West Main St. in Oyster Bay for $1.9 million. The fully occupied property on the southeast corner of West Main Street and Spring Street has four retail stores on the ground level and three apartments above. Jennifer Keschner of Signature Premier Properties represented the buyer, while Giuseppe Gregorio, Luca DiCiero and Nick Evangelista of NY Space Finders represented the seller, HB Binder Equities LLC, in the sales transaction.
110 Denton Ave., New Hyde Park
CMP Corona Realty LLC, an affiliate of a tile supply firm, purchased a 12,500-square-foot industrial building on .36 acres at 110 Denton Ave. in New Hyde Park for $3.6 million. The property was formerly owned and occupied by Sound Refrigeration & Air Conditioning, which consolidated its operations at another property nearby. Built in 1963, the building has about 2,000 square feet of office space on the first floor and another 2,000 square feet of office space on its mezzanine level. It has 16.5-foot clear ceiling height and a drive-in bay. The buyer plans to occupy the New Hyde Park building for its tile supply business, according to a broker on the deal. Sam Kapoor and Michael Steinberg of Empire Business Management represented the buyer, while Dan Abbondondalo, Joegy Raju and John Giannuzzi of Cushman & Wakefield represented the seller, 110 Denton Realty LLC, in the sales transaction.
888 Veterans Memorial Highway, Hauppauge
Dime Savings Bank extended its lease for 2,473 square feet of office space at 888 Veterans Memorial Highway in Hauppauge. Dime occupies more than 80,000 square feet at the building, including a bank branch. Alliance One, a commercial factoring firm, renewed its lease for 2,163 square feet of office space at the same property. The tenants were self-represented, while the landlord, Cranford, N.J.-based Signature Acquisitions, was also self-represented in the lease renewals.
40 Melville Park Road, Melville
Northwell Health leased 19,162 square feet of office space at 40 Melville Park Road in Melville. The health system will use the space for a new pharmacy fulfillment center and related administrative offices, according to a statement from the landlord, Simone Development Companies. Darren Leiderman of Colliers represented Northwell Health, while the landlord, Simone Development Companies, was self-represented in the lease transaction.