A property in Carle Place leased to the United States Postal Service has sold for $1.535 million.
Postal Realty Trust, a Cedarhurst-based real estate investment trust, purchased the 3,812-square-foot building on .23 acres at 309 Westbury Ave.
The sale price equates to a 6.09 percent cap rate and the triple-net lease to the USPS is set to expire in Sept. 2026.
Postal Realty Trust is the first and only publicly traded REIT focusing solely on the acquisition and management of properties leased to the USPS, according to its website.
Ron Koenigsberg of American Investment Properties represented the buyer, as well as the seller, Baldwin Properties LLC, in the sales transaction.