July 30, 2020
B6 Real Estate Advisors has been retained by LBKC Associates, LLC to sell 975 Stewart Ave, a 30,200-square-foot medical office building in Garden City, NY. Currently net leased to NYU Langone Cardiology Group, the site has an asking price of $11.5 million.
A B6 team of DJ Johnston, Ben Efraimov, William Cheng, Michael Murphy, Ben Rechler and Andrew Winwood is handling the assignment.
Capital improvements were completed in 2019, with NYU Langone investing approximately $1.1 million to improve interiors. Ownership added a new roof coating with a 50-year roof life guaranty.
LBKC Associates has obtained a variance to add an additional 10,000 square feet, which can be built adjacent to the building, according to B6.
Located directly off Meadowbrook State Parkway, the building is close to NYU Winthrop Hospital, Nassau University Medical Center, Hofstra University, Nassau Community College and Roosevelt Field Mall, Long Island’s largest mall.
For comments, questions or concerns, please contact Paul Bubny