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Cushman & Wakefield Sells Luxury Apartment Building in Hempstead

09/25/2015

A luxury apartment building at 148 Greenwich Street, located on the corner of Greenwich Street and Cruikshank in the Village of Hempstead, Nassau County, was sold in an all-cash transaction valued at $6,350,000.

The 40-unit, five-story elevatored building contains approximately 49,952 square feet and sits on a 153’ x 183’ lot. Built in 2006, the building’s exterior is in excellent condition and it contains studio, one-bedroom and two-bedroom units. The fifth floor consists of four penthouse units, all two-bedroom and two-bathroom. Each unit has completely updated kitchen appliances, finishes, features a private balcony, and is independently metered. The property is fully fenced, equipped with cameras at all entrances, and has a parking lot consisting of 57 spaces. In addition, the building has a full basement of approximately 10,800 square feet with amenities that include a meeting room, and large storage room. The sale price equates to approximately $127 per square foot.

Located in the Village of Hempstead, the property is just five blocks south of Peninsula Boulevard and two blocks south of Kennedy Memorial Park. The Hempstead public schools are within walking distance and the Greenwich Street and Totten Street bus stops are located on the corner of the property.

“This transaction had its challenges but diligent work and patience from all parties involved kept the deal alive,” said Cushman & Wakefield’s Daniel Abbondandolo, who exclusively handled this transaction with Benjamin Efraimov.  “With potential buyers being priced out of primary markets, many investors are looking at submarkets in Nassau County for higher rates of return,” said Efraimov.

09/25/2015 - 13:45

Source

Cushman & Wakefield Capital Markets Group New York

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