Mordekhai of Forest Park Properties closes off-market sale - $4.1 million; Oheb of Meridian brokers loan

Queens, NY According to Forest Park Properties Inc., they have closed on the off-market transaction of 149-19 Union Tpke. Raymond Mordekhai of Forest Park Properties represented both parties in the transaction. The sale price was $4.1 million.

The buyer was 149-19 Union Tpke. Realty LLC and the seller was United Properties Corp. of East Meadow N.Y.

The retail building consists of six stores and is currently fully occupied. The sale price represented a 5.4 cap rate. The $634 per s/f price achieved was a record for Union Tpke.

Financing was provided by NYCB. The loan was brokered by David Oheb of Meridian Capital.