Valley Stream office property trades for $1.9M


An office property in Valley Stream has sold for $1.9 million. 

Hi Jong Lee, a Valley Stream-based real estate investor, purchased the 7,308-square-foot building on .22 acres at 550 W. Merrick Road. 

The building is 75 percent occupied with a mix of traditional office and medical office tenants, including the Prince Center for the Visually Impaired. The Prince Center provides services for pre/post-surgery clients from eye-care facilities, stroke rehab facilities, hospitals, nursing homes, assisted living facilities, school districts, VA facilities and people with independent with multiple eye conditions. 

The sale price equates to a 5.32 percent cap rate. 

Dawn Jones of Top Rated Realty represented the buyer, while Dawn Assael Gingold of American Investment Properties represented the Mineola-based seller, Key Realty LLC, in the sales transaction. 





Image and article originally from libn.com. Read the original article here.