Castle Bay Management bought two Nassau County retail centers for a combined $17 million, both as 1031 exchanges. The Syosset property at 180 Jericho Turnpike is 19,554 square feet on an acre and a half and sold for $9.75 million, a 6 cap. It is fully leased, with Vitamin Shoppe, FedEx Office, Beijing House and North Shore Cardiopulmonary Associates in a separate building on the site. The Hicksville strip at 350-382 W. Old Country Road runs 27,428 square feet on 1.52 acres, is fully occupied with neighborhood tenants, and traded at $7.25 million, a 6.5 cap on current NOI.
Nick Anzalone and Adam Silber represented the buyer in Syosset and Tommy Sansone represented the seller, PJS Holdings. In Hicksville, Nick had the buyer and Adam represented the seller, a Long Island joint venture of Maple Forest Realty and MC Hicksville Realty. Well located Nassau strip centers are still the first place 1031 money looks when it wants stability and predictable cash flow.

Summarized from Long Island Business News. Original article: https://libn.com/2026/06/29/silber-brokers-17m-sale-nassau-retail-centers/