A mixed-use property located in the heart of Bayville has traded for $3.9 million.
22YRC Lo Properties LLC, an entity registered to a Mt. Sinai-based real estate investor, purchased the 9,494-square-foot building on .44 acres at 22 Bayville Ave.
The fully occupied building has four two-bedroom, two-bath, rental apartments over four commercial spaces. The property also includes four garages behind the building.
The sale price equates to a 7.37 percent cap rate.
Tim Petrou and John Pszczola of Blue Shark Realty Group represented the buyer, while John Magnani of DGNY Commercial and Janine Fakiris and Giselle DiMasi of Daniel Gale Sotheby’s International Realty represented seller 22 Bayville Avenue LLC in the sales transaction.
Image and article originally from libn.com. Read the original article here.