Listen to this articleAn industrial property in New Hyde Park has sold for $3.6 million.
CMP Corona Realty LLC, an affiliate of a tile supply firm, purchased the 12,500-square-foot building on .36 acres at 110 Denton Ave.
The property was formerly owned and occupied by Sound Refrigeration & Air Conditioning, which consolidated its operations at another property nearby.
Built in 1963, the building has about 2,000 square feet of office space on the first floor and another 2,000 square feet of office space on its mezzanine level. It has 16.5-foot clear ceiling height and a drive-in bay.
The buyer plans to occupy the New Hyde Park building for its tile supply business, according to a broker on the deal.
Sam Kapoor and Michael Steinberg of Empire Business Management represented the buyer, while Dan Abbondondalo, Joegy Raju and John Giannuzzi of Cushman & Wakefield represented the seller, 110 Denton Realty LLC, in the sales transaction.
“The seller, who is a client and friend, approached our team to analyze the building, as the immediate neighbor expressed interest in acquiring the property,” Abbondondalo said. “That afforded us the opportunity to market the asset to a wider audience, resulting in a much higher selling price.”
Giannuzzi said the property is a prime asset in the area’s current industrial real estate landscape.
“The user market excelled this year with high demand and low inventory,” he said. “This sale reflects a significantly high price per square foot due to demand for industrial-type buildings in western Nassau County.”
