GFI Realty Retained as Exclusive Sales Agent for Lawrence, NY Mixed-Use Building July 29, 2016

City Biz List | July 22nd, 2016

GFI Realty Services, LLC today announced that it has been named the exclusive sales agent for 301 Central Avenue, a trophy mixed-use property in Lawrence, New York. GFI Realty Managing Director of Investment Sales Yosef Katz and Associate Curtis Grosser will oversee the marketing of the property, with pricing targeted at $6.86 million.

The property is comprised of twelve apartments, two retail spaces, one of which will be delivered vacant, and two antennas. The asset has been under the same ownership for the past forty years and has been kept in excellent condition. In recent years, ownership implemented significant renovations to the apartment interiors as well as the exterior façade.

The building is located on Central Avenue, a strong commercial corridor in the affluent village of Lawrence, which boasts national tenants including Banana Republic, TD Bank and Bank of America.

“301 Central Avenue is a great offering due to its immaculate condition and prime corner location on a major retail corridor,” said Grosser. “Residents are attracted to area’s strong sense of community and the ease of living this quiet enclave offers.”

Added Katz: “Potential buyers can expect strong leasing interest from retailers seeking a Central Avenue storefront. With the property’s strong location and significant upside, this is a great pick-up for investors looking to enter this affluent Long Island market.”

 

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