Q2 2012 Long Island, New York Office Property Sales Analysis

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Q2 2012 Long Island, New York Office Property Sales Analysis


Long Island’s single property office investment sales were quiet in the second quarter, with only one qualifying sale recorded.* The single sale generated a transaction volume of $14.8 million and a price per-square-foot of $146. The 12 month rolling cap rate for the quarter was 9.5%. The single sale was a 101,091-square-foot multi-tenant office building on Marcus Avenue in the village of Lake Success. The seller was Astoria Federal Savings & Loan. The buyer was Marcus Park LLC.