Kalmon Dolgin arranges sale of $13m Long Island building.In a transaction valued at $13 million, Kalmon Dolgin Affiliates Inc. has arranged the sale of 50 Clinton Street in Hempstead, NY, a 130,000 s/f commercial building located in the hub of Long Island's Nassau County Nassau County is the name of two counties in the United States of America:
Neil Dolgin, executive vice president of Kalmon Dolgin Affiliates, made the announcement. Berish Ekstein, the main principal of 2701 Associates, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , purchased the property from 15th Street Holding LLC, an entity owned by the Dolgin family. Broker Chaim Freund of Kalmon Dolgin Affiliates, Inc. represented both buyer and seller in the transaction. "Current market conditions made the arrangement mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" ," Freund commented. "This property offers proximity to major thoroughfares, including Hempstead Turnpike turnpike, road paid for partly or wholly by fees collected from travelers at tollgates. It derives its name from the hinged bar that prevented passage through such a gate until the toll was paid. See also road. , as well as a wide variety of shopping and dining destinations." The building, which recently underwent major renovations, is currently 97 percent leased to a prestigious roster of tenants, including the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Division of Housing and Community Renewal, Long Island Housing Services, and other government, not-for-profit Not-for-profit An organization established for charitable, humanitarian, or educational purposes that is exempt from some taxes and in which no one in profits or losses. and private agencies and professional offices. "We acquired the building in 2002 and were able to substantially increase the property's income by making considerable capital improvements and bringing 50 Clinton Street to near total occupancy," said Neil Dolgin, executive vice president of Kalmon Dolgin Affiliates. "Taking advantage of the current market conditions, we felt now was the appropriate time to sell the asset." |
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