Sovereign Realty Group LLC
News:
Long Island
Posted: August 7, 2018
Coté of Sovereign Realty Group reps seller in $4.165 million sale of 5,464 s/f property occupied by Applebees
Sovereign Realty Group LLC
Silber Investment Properties
New Hyde Park, NY Sovereign Realty Group LLC and Silber Investment Properties Ltd have arranged the sale of a free-standing Applebee’s located at 1985 Jericho Tpke., at the corner of Leonard Blvd. for $4.165 million.
The property is 5,464 s/f on 1.47 acres and has been triple net leased to Applebees since 1995. The selling price represented a 5% cap rate.
Clem Coté of Sovereign Realty Group represented the seller, BLIMA LLC. The buyer, Lighthouse Commons LLC was represented by Adam Silber and Chinho Park of Silber Investment Properties.
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Long Island
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