Benedict Realty Group Pays $16.4M for Office, Medical Condo at Garden City Square

Benedict Realty Group Pays $16.4M for Office, Medical Condo at Garden City Square

NEW YORK—Benedict Realty Group (BRG) of Great Neck, N.Y. has paid $16.4 million to acquire a 125,000-sq.-ft. office and medical condominium unit at Garden City Square in Nassau County.

CBRE’s Jeffrey Dunne, Steven Bardsley and David Gavin of the company’s New York institutional group, along with Philip Heilpern, Richard Karson and Martin Lomazow of CBRE’s Long Island office, represented the seller, AG-Metropolitan 711 Stewart Avenue LLC, a joint venture of Metropolitan Realty Associates LLC and Angelo, Gordon & Co., in the sale.

The same CBRE team also procured the buyer, which was represented by Robert Watman.

Located in Nassau County, Garden City Square offers several different medical specialties. The office/medical condominium is currently 55 percent leased and was recently renovated. Garden City Square also includes two retail condominiums, which are currently under construction.

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