ISLANDIA, NY-Damianos Realty Group LLC, one of the largest property owners on Long Island, has purchased 3001 Expressway Drive North, a 40,000-square-foot office building in Islandia for $3.85 million, or $96 dollars per square foot, the company announced.
The all-cash transaction marks the family's newest Suffolk County asset in its 22-building Long Island-based portfolio. The seller, Spencer Savings SLG of Elmwood Park, NJ, acquired the property through a foreclosure proceeding against RJP Realty Co.
Constructed in 1980, the building is located on both sides of the Long Island Expressway between Veterans Memorial Highway and Motor Parkway. It is currently 50% occupied by medical tenants such as HealthSource, Stony Brook University Hospital and CARES.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
