Koenigsberg of AIP arranges $2.137m sale of Smith West Plaza; sold to Summit Blossom as part of a 1031 exchange

September 05, 2017

Smithtown, NY American Investment Properties Inc. (AIP) arranged the sale of the 7,200 s/f Smith West Plaza retail center for $2.137 million.

The property, 1041 W. Jericho Tpke., constructed on one acre in 1987, was sold to Summit Blossom LLC, of Flushing, as part of a 1031 exchange, by Smith West Plaza LLC. The price amounted to $205 per s/f with a cap rate of 6.4%, based on actual income…

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