Preuss and Schmitz of Cushman & Wakefield complete two Long Island sales totaling $2.24 million

Great Neck, NY Cushman & Wakefield has arranged the sale of two properties totaling $2.24 million located on Long Island. 733 Middle Neck Rd. sold for a final closing price of $1.24 million. 481 Meacham Ave. in Elmont sold for $1 million.

A team led by senior managing director Stephen Preuss and associate director Kevin Schmitz represented the sellers in all marketing efforts.

“Through these sales, both investors have acquired properties with great potential,” said Preuss. “481 Meacham Ave. is ideal for many different types of end-users, and 733 Middle Neck Rd. provides the immediate opportunity to capitalize on the lack of developable land available in the Great Neck area.”

 

 

733 Middle Neck Rd. is a 6,504 s/f lot with an existing 4,477 s/f mixed-use building currently in place which will be delivered vacant. This property will be used for the development of a new religious facility. The property is located on the east side of Middle Neck Rd., which is the main thoroughfare through the village. It is located about 1.5 miles north of the Great Neck LIRR station making it convenient for a transit-oriented developer.

The owner, 75 Parson Blvd,. LLC, was represented by Cushman & Wakefield and received a final closing price equal to $176 per s/f for the property. 733 Middle Neck Rd. was acquired by Gesher, Inc.

481 Meacham Ave. is 5,680 s/f warehouse building consisting of two drive-in doors, 15’4” ceilings and street parking in front of the building. The property is column free and has about 720 s/f of air-conditioned office space, including a conference room and two bathrooms. There is 520 s/f of closed storage with an equal sized loft storage space above.

Cushman & Wakefield represented Aaa Property Assoc, LLC in the sale to Allison Heaney.