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Long Island commercial real estate investment firm has acquired a retail strip center in Greenlawn. Petrakis Properties, based in Seaford, purchased the 9,100-square-foot building at 51 Broadway for $2.275 million.
The property, situated on 1 acre, is home to six local businesses, including Carvel Ice Cream and Deli 51, as well as a vacant space. The sale price translates to a 7.5 percent cap rate.
Adam Silber of Silber Investment Properties represented the buyer in the transaction, while Dylan Silber of the same firm represented the seller, Greenlawn Associates LLC.
