New York, NY – November 21, 2019 – Cushman & Wakefield today announced that the firm has arranged the sale of 212-230 Middle Neck Road, a 53,097-square-foot residential development site, The Rose, on Long Island. The final closing price is $8 million, equating to approximately $142-per-buildable-square-foot.
Cushman & Wakefield’s Daniel Abbondandolo, Robert Kuppersmith and Dimitri Mastrogiannis represented the seller, GN Properties, LLC, in this transaction. Kelly Koukou and Bradley Diamond of Lee & Associates represented the buyer, McKinley Homes.
“This site is one of several ground-up projects in the Great Neck region,” said Abbondandolo. “With approved plans in place, The Rose will serve as a catalyst for surrounding sites looking to break ground.”
212-230 Middle Neck Road has approved development plans in place to feature a three-story residential building with forty-units, ranging from one- to three-bedrooms, with on-site parking. The blueprints feature a range of amenities including storage, a laundry room, exercise facility, rooftop lounge and large deck area.
The Village of Great Neck Estates offers a country club-like atmosphere at the Waterfront Park. The development boasts an Olympic-sized swimming pool, four all-weather tennis courts, three Har-Tru courts, a marina and dock area, baseball and soccer fields, basketball and handball courts and children’s playground.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.