Cushman & Wakefield has represented the owner of a rent-stabilized, 30-unit residential property at 357 Jackson Street in Hempstead in Nassau County on Long Island.

The 26,864-square-foot, three-story site was sold on behalf Jackson Street 2012, LLC for $3.05 million. It was purchased by 86 Hamilton Avenue, LLC.

“Cushman & Wakefield successfully set in motion a marketing program that attracted a number of bidders from throughout the region, many of whom found the seven-percent capitalization rate appealing,” said Stephen Preuss, senior managing director with Cushman & Wakefield. “We also took care to manage the closing process to ensure that everything moved forward expeditiously.”

Senior associate Kevin Louie assisted Mr. Preuss on the transaction.

Built in 1926, the walk-up building is presently leased to a mix of Section 8 and market-rate tenants, with the exception of one vacancy.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.