An office property in Roslyn recently sold for $1.95 million. The 6,034-square-foot building on .15 acres, located at 1326 Old Northern Blvd, was purchased by Vohora Realty LLC, an affiliate of a pharmacy business. The buyer, which owns Roslyn Pharmacy two doors down, intends to occupy the office building once Summer Discovery, a provider of student summer programs and the current tenant, vacates by the end of the year.
Stephen Preuss, Kevin Louie, and Eric Delafraz of RIPCO Real Estate represented both the buyer and the seller, Musik Properties LLC, in the sales transaction. According to the brokers, the buyer plans to utilize the iconic building for its own operations after the current tenant leaves. The property provides short-term income for the buyer while they finalize their construction and business plans.
Louie shared, “1326 Old Northern Blvd is an iconic building owned and operated by the seller for several decades. There is short-term income for the buyer while they get their construction and business plans in place. We had several offers at the asking price and were able to put this centrally located asset under contract within 30 days of marketing.”