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Large, Long Island MOB Sells For Over $16 Million

GARDEN CITY, NY-The property, which has separate office and retail areas, is part of a multi-unit sell-off.

By Rayna Katz | Updated on May 06, 2013

GARDEN CITY, NY-A large office and medical condominium unit at Garden City Square has sold for $16.4 million, it was announced Monday by CBRE, which represented the seller on the deal.

The 125,000-square-foot facility was sold by AG-Metropolitan 711 Stewart Avenue, LLC, a joint venture of Metropolitan Realty Associates, LLC and Angelo, Gordon & Co. CBRE’s Jeffrey Dunne, vice chairman; Steven Bardsley, SVP and David Gavin, VP of New York’s institutional group closed the deal. Also representing the seller were Richard Karson EVP; Philip Heilpern, SVP and Martin Lomazow, SVP of CBRE’s Long Island office. The team was also responsible for procuring the buyer, Benedict Realty Group. Robert Watman, partner, RDW Advisors LLC, represented BRG.

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