Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Massey Knakal Retained Exclusively To Sell Multifamily Assemblage / Development Site In Glen Cove

02/20/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a multifamily assemblage at 5-7 Cedar Swamp Roadand 4-6 Russell Place. The property is located between Alexander Place and Elm Avenue in Glen Cove, Nassau County. The asking price is $2,900,000.

The property is currently a multifamily assemblage consisting of three tax lots and four houses, with a total of eight residential units.  The footprint of the combined lots is approximately 150’ x 200’.  The site’s B-2 zoning classification is for peripheral commercial district with additional special uses from the B-1 zoning for central commercial district.  These zoning classifications allow for a mixed-use development with 80% lot coverage and a structure up to three stories high equating to a potential of approximately 70,000 buildable square feet, contingent upon parking requirements for use. 

This property is located in the heart of Glen Cove, the original gold coast city on the North Shore of Long Island.  It is surrounded by national tenants and across from the Long Island Railroad.

For more information on this listing, contact Massey Knakal Director of Sales Stephen R. Preuss at 718.275.3400.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

02/20/2013 - 16:48

Source

Cushman & Wakefield Capital Markets Group New York

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