Traded: Retail Property At 840 Old Country Road For $8 Million
Link to Traded.com article here.
The retail asset located at 840 Old Country Road in Riverhead has been sold for $8,000,000. The property encompasses 11,000 square feet, resulting in a price per square foot of $727.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Address: 840 Old Country Road
- Market: Riverhead
- Size: 11,000 SF
- Price Per Square Foot: $727
- Buyer: David Patel
- Seller: Peter Moutafis
- Buyer’s Representative: Benjamin Zone – Meridian Capital Group
- Seller’s Representative: Gary Pezza – DGNY Commercial
The transaction included two key representatives: Benjamin Zone, who represented the buyer, David Patel, and Gary Pezza, who represented the seller, Peter Moutafis, ensuring a professional exchange during the sale process.
Being consistent, persistent and resilient will get things done. The news around commercial real estate is primarily about the Fed, interest rates and tariffs. Certain sectors have been impacted by shifting market dynamics, but that’s not the whole story.
At DGNY Commercial, we’re experiencing a record breaking year and our client’s are reaping the benefits. You should join us in a conversation about your position and plans.
📈 That kind of success doesn’t happen by accident. It comes from:
– Putting our clients’ needs first
– Performing necessary tasks on a daily basis
– Staying up on trends and shifts in the field
– Properly marketing your properties
– Promoting our company’s presence
The results will yield activity, even in a downturn. So while some are pulling back, we’re doubling down with integrity, transparency, and hustle.
It’s a long game, folks and we’re built for it.