Listen to this articleA mixed-use property in Great Neck has sold for $3.05 million.
SDK Realty, a local commercial real estate investor, purchased the two-story, 16,545-square-foot building on .22 acres at 11-19 Northern Blvd. The building has about 7,500 square feet of office space above about 8,200 square feet of retail space.
The property was formerly owned and occupied by Forever Together, a bridal services company, which closed in 2021 after falling victim to a loss of business due to the COVID-19 pandemic.
The seller, Emerald Creek Capital, had foreclosed on the property which remains nearly empty today. The buyer plans on renovations and improvements to the property in advance of leasing the vacant space, according to a broker on the deal.
Joegy Raju, Dan Abbondandolo and Craig Waggner of Cushman & Wakefield procured the buyer and represented the seller, Emerald Creek Capital, in the sales transaction.
“The purchaser is looking to capitalize on a demographic shift, where people are migrating to the area from the boroughs,” Raju said.