Koenigsberg of American Investment Properties brokers $1.03 million sale; Represents buyer and seller of the 5,100 s/f, mixed-use property

July 21, 2017

Rockville Centre, NY American Investment Properties Inc. (AIP) has arranged the all-cash sale of a 5,100 s/f mixed-use property for $1.03 million.

The property, 218-220 Sunrise Hwy., which was built in 1936 and consists of three stores and two apartments, was sold by Douglas Barnaby to Dan Nicolo. The price amounted to $202 per s/f with a projected cap rate of 7.91% and an actual cap rate of 2.96%…

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