Oceanside, NY; Schuckman Realty is pleased to announce the sale of a single-tenant leased property at 3200 Long Beach Road, Oceanside, NY 11572. The property features an 11,500 square foot building on a 26,000 square foot lot with dedicated parking, currently tenanted by an operating “The Learning Experience” which recently commenced a new 15-year lease term for the location and received a brand new build-to-suit renovation of the property from the Seller.
The sale closed on June 13th and sold for $4,750,000 at a 6.5% Cap Rate. Matthew Colantonio of Schuckman Realty represented the seller, a Long-Island based developer. Bronx CRE’s Anthony Mameli represented the buyer, a New York City-based 1031 buyer.
“Schuckman Realty represented the seller, who signed the lease pre-covid and experienced both tenant and construction delays during the Pandemic. Schuckman Realty ‘s Investment Sales Team marketed the property as construction neared completion and as the tenant was about to take possession, and delivered a local 1031 buyer who inked a non-refundable contract and short-term closing.”
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
Keywords: Investment Sales, Real Estate Sales, New York Real Estate, STNL, Single Tenant Net Lease, Property Sale, Real Estate News, Schuckman Realty, 1031 Exchange