Recent Real Estate Deals in Long Island: Inked

Golden Peruvian Real Estate LLC recently made a significant investment in the heart of Islip, purchasing a two-story, 7,990-square-foot mixed-use building for $2.2 million. The property, located at 496 Main St., currently houses the popular Mango Tango restaurant on the first floor, with the second floor serving as storage space.

The sale, which equates to a 7 percent cap rate, was brokered by Jason Merrell and Michael Gronenthal of Douglas Elliman Commercial, representing both the buyer and the seller, Ichiban II Inc. The new owner has plans to eventually operate his own restaurant at the property, making this purchase both a strategic investment and a potential business opportunity.

In another notable real estate transaction, Kalra Property Group LLC acquired a 5,850-square-foot retail building on .75 acres at 390 Jericho Turnpike in Syosset for $5.2 million. The property, fully occupied by tenants such as Starbucks, Optimum, and Kiddsmiles Pediatric Dentistry, boasts a 6.33 percent cap rate. The deal was facilitated by Raj Whadwa and Mani Nagpal of Global Realty Services, representing the buyer, and Jon Winzelberg and Tom Rettaliata of RIPCO Real Estate, representing the seller, Syview LLC.

These transactions highlight the continued activity in the Long Island commercial real estate market, with investors and businesses alike seizing opportunities for growth and expansion.