A retail property in Melville has sold for $3.3 million. 

505 WW Holdings LLC, an entity registered to a Roslyn-based real estate investment group, purchased the 9,200-square-foot building on 1.16 acres at 505 Walt Whitman Road. 

The property is fully occupied by two tenants, Steinway Piano Gallery and Grace Music. 

The sale price equates to a 7 percent cap rate. 

Michael Gronenthal of Douglas Elliman Commercial represented the buyer, while Ted Trias served as in-house representative for the seller, Rechler Equity Partners, in the sales transaction. 

Article: https://libn.com/2022/09/21/melville-retail-property-trades-for-3-3m/

Leave a Reply

Your email address will not be published. Required fields are marked *

Need More Information?

DGNY COMMERCIAL
175 Broadhollow Rd. Suite 140
 Melville, New York 11747

Phone: 516.402.3469
Email: Info@DGNYCommercial.com

 

DGNY Commercial Logo

© 2020 – DGNY COMMERCIAL. All rights reserved.

We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

New York State Fair Housing Notice 

The source of the displayed data on all of our listings is provided by either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use.