Great Neck-based real estate investment company United Capital Corp. has bought the 4-acre property of a Bentley car dealership in Jericho, and has signed a lease with a new Bentley dealership owner, Champion Rescue LLC.
United Capital Corp. had held a $13.4 million first mortgage on the property, and took ownership of the property and a 61,000 square foot showroom and service center, formerly operated by Bentley Long Island, at 115 South Service Rd.
In commenting on the news, A.F. Petrocelli, United Capital’s chairman and president, said in a prepared statement, “This acquisition represents another great long-term addition to our portfolio and demonstrates our commitment to finding value, even in uncertain times.”
Michael Lamoretti, vice president of United Capital’s real estate operations, said, “We have had tremendous interest in leasing this property since acquiring the mortgage last year and are pleased to have retained such a prestigious franchise.”
Above left, a Bentley Continental Flying Spur.
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