A freestanding bank building in Merrick has sold for $2.9 million. 

101 Oriental Blvd. LLC, an entity registered to a Franklin Square-based real estate investor, purchased the 4,700-square-foot building on .25 acres at 2111 Merrick Ave. The acquisition was part of a 1031 exchange. 

The property is net-leased to Roslyn Savings Bank. 

The sale price equates to a 6 percent cap rate. 

Jesse Anselmo of Tri Novo Realty represented the buyer, while Peter Wolf of Select Real Equity Advisors represented the seller, Sam Drayman Family Co. LLC, in the sales transaction. 

Source link