Colantonio and Adhami of Schuckman Realty Facilitate Sale of Long Island STNL Bank Building
Brentwood, NY; The Schuckman Realty Investment Sales team is proud to announce that team members Matthew Colantonio and Ryan Adhami have completed the sale of 710 Suffolk Ave, Brentwood, Long Island, NY. The property sold for $2,500,000 and closed on March 7th, 2022.
710 Suffolk Ave. Brentwood, NY
The property is a 5,019 square foot Single-Tenant Net Leased Citibank on a 42,253 square foot lot. Schuckman Realty represented the seller and procured a local 1031 Buyer in the off-market transaction.
Matthew Colantonio commented, “The single-tenant market continues to be driven by the national 1031 buying community. The lack of supply is keeping cap rates low, even on sub-10yr product. As interest rates rise, we expect the low-cap environment to remain until for sale supply increases. We have seen an increase in QSR and new bank branch signed leases over the last 6 months, which should add to the amount of available properties for sale as these tenants finish build-out, open for business, and begin paying rent.”
Inquiries regarding investment sales should be directed to Matt Colantonio via email at: matt@schuckmanrealty.com
Matthew Colantonio
Lic. Assoicate RE Broker
matt@schuckmanrealty.com
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
Keywords: Investment Sales, Real Estate Sales, New York Real Estate, Property Sale, STNL, Single Tenant Net Lease, Long Island Real Estate, Long Island Business News, Property Sales, Real Estate Brokerage, Schuckman Realty, Schuckman Realty Investment Sales
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