Plainview, NY 11803
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PLAINVIEW, NY, August 19 – T.M. JASME EAST, LLC has purchased properties located at 96-102 N Broadway, 1-3 Newbridge Rd and 29 Williams St., in Hicksville, NY from RIARK, LLC for $6,625,000 at 6.5 CAP through a 1031 exchange. The properties have retail tenants Dunkin Donuts, Pizza Hut, Wize Eyes, DTE Window Tinting, and Utopia, as well as a residential single family home at 29 Williams St. The retail space is approximately 13,300 square feet and a lot size of .83 acres.
The deal was complicated with a sale leaseback, contract, and open permits that will need to be handled post closing. After 5 months of negotiating, the contract and lease were signed at the closing. Marty Sass of Silber Investment Properties collaborated with RPS Capital Management and Hanley Investment Group as Brokers in the transaction.
ABOUT SILBER INVESTMENT PROPERTIES
Long Island based commercial real estate brokerage; Silber Investment Properties (SIP), specializes in the acquisition and disposition of retail investment properties ranging from multi-million dollar shopping centers to a single tenant chain store. In addition the SIP National Net Leased Division brokers hundreds of Triple-Net (NNN) Properties across the country. Silber Investment Properties has earned a reputation for brokering off-market, in-house transactions, and maintains relationships with REITs, large corporations, family trusts, developers, and private investors.