Cushman & Wakefield announced today that the firm has arranged the sale of 25 Cuttermill Road, a prime retail strip in Great Neck Plaza, New York. The final closing price was $4.8 million, equating to approximately $427 per square foot.
A Cushman & Wakefield brokerage team consisting of Director Benjamin Efraimov and Senior Associate Kevin Schmitz represented the seller, 25 Cuttermill Road Realty Corp, in the transaction. The site was purchased by Nassimi Realty LLC.
“25 Cuttermill Road presented an excellent opportunity to acquire a prime retail strip in the heart of the affluent Great Neck community,” said Benjamin Efraimov of Cushman & Wakefield. “Situated in the center of a desirable Long Island village, the property is an ideal retail destination.”
The commercial property consists of 11,250-square-foot of retail space and is split into ten retail spaces, but easily divisible into 13-14 spaces. Currently, seven of the spaces are occupied. The property offers a 4,160-square-foot basement, a 2,470-square-foot mezzanine and 180’ of frontage on Cuttermill Road.
Located between Pearce Place and Gusack Plaza on Cuttermill Road, the property is situated in the heart of Great Neck Plaza. 25 Cuttermill Road is located near multiple retail and dining options including CVS Pharmacy, Dunkin’ Donuts and Bareburger. The property is conveniently located a short walk away from the Great Neck, Long Island Railroad Station.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. 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. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
