Investment Sales

90-10 Ditmars Boulevard is an existing 288-unitcommercial building which has been shuttered for early five years, and sits on nearly 3.5 acres, located directly across from LaGuardia Airport. Sale Price $53,000,000 Price Per Unit $184,028

This property was a rare sale opportunity as the last undeveloped parcel of scale along this stretch of Northern Boulevard in Flushing. At the time of sale, our team was challenged with a turbulent and conservative market. We were able to procure a buyer at premium pricing with plans to develop the property and close by the end of the year., satisfying ownership's 1031 exchange requirements. Sale Price $48,000,000 Price Per Buildable SF $334

A newly renovated medical center leased to OCLI and ProHealth Dental. The site underwent an ~$3M gut renovation in 2019 and spans over an acre, including an on-site parking lot. Sale Price $11,000,000 Price per SF $746 Cap Rate 4.67%

A two-story office building located adjacent to Northwell North Shore University Hospital in Manhasset, Long Island. The tenant mix consists of several private and hospital affiliated medical practices. Sale Price $7,680,000 Price Per SF $321 Cap Rate $5.2%

Harbor House, is a three-story, 31,920 SF, mixed-use retail and residential building located in Safety Harbor, Florida. Built in 1926, the historic building was originally developed as the St. James Hotel. The property sold for $8.45M in April, 2023, to an Orlando-based investor who plans to return the building back to its roots with the launch of a boutique hotel.

Northside Square is a 35,774 SF strip center located on US Highway 19, a major retail corridor in the Tampa Bay MSA. Northside Square is a destination services and retail center that was 98% leased at the time of sale, providing upside with scheduled rent increases and lease up of vacant space. Northside Square sold for $6,350,000, or $177.50 per square foot, in April of 2023.

Alico Commons is an +11,950 SF retail and medical center located in Fort Myers, Florida. Built in 2021, Alico Commons consists of three national/regional tenants. At the time of sale, the asset provided the buyer 10+ years of weighted-average remaining lease term and a NNN reimbursement structure, giving the investor dependable cash flow with minimal management responsibilities. The property sold for $8.1M in January 2023.

The INSA Dispensary is a 2,341 SF, single tenant retail asset 100% leased to a medical cannabis dispensary. The property was renovated in 2022, at which time the tenant signed a 10-year, absolute NNN lease with annual increases. The property sold in January 2023, for $1,350,000.

Gaffney Plaza is a 16,680 SF Walmart-Shadowed Center that was 100% occupied by a mixture of 10 retail and services tenants at the time of sale. The asset is located on a busy retail corridor, adjacent to a Wal-Mart Super Center. This sale gave the buyer a fully stabilized, cash flowing investment with strong national tenants, and the ability to increase cash flow through remaining option periods. The property sold in January 2023, for $4,050,000.