360 Smith St. in Farmingdale, Long Island, NY
NEW YORK CITY—With its lease approaching expiration, Newsday has renewed its agreement with Milvado Property Group and will stay in its 38,600-square-foot space. Located at 360 Smith St. in Farmingdale in Long Island, NY, the building has served as the daily newspaper's distribution hub for its print copies for the last 20 years. The building's asking rent was $12.50 per square foot.
“We are delighted to maintain our long standing relationship with Newsday,” says David Hercman, director of asset management for Milvado. “Newsday is an amazing tenant. Its company is crucial for news delivery throughout Long Island, and we are pleased to be able to accommodate their residency for the future.”
The 60,000-square-foot property has ample parking. It also offers direct access to the Long Island expressway, Route 110 and multiple, additional transportation routes. This makes it an ideal center for the paper's regional distribution. The Newsday print circulation for Long Island is 197,026 for its daily paper and 234,693 for its Sunday issue, according to the company's media kit.
In addition, TFT5, a baseball studio with batting cages, also rents in the building.
Avison Young's Frank Pagano represented Newsday. The landlord was represented in-house.
Based in Syosset, NY, Milvado owns and manages industrial, office, mixed-use and R&D properties in Nassau and Suffolk Counties, Long Island. Its portfolio includes 3.6 million square feet across 38 buildings.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
