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…