Two rent-stabilized apartment buildings in Rockville Centre have been sold for $16 million.
Suburban Associates at Grand and Maple LLC sold 145 Maple Ave. and 91-99 Grand Ave., a two-building “apartment package” totaling 83 units, to Fairfield Properties of Melville.
Five Point Real Estate, a Melville-based real estate investment firm, oversaw the sale of the properties, which date back to the 1970s, according to a company news release.
“It’s a great property,” said Corey Gluckstal, co-managing partner of Five Point Real Estate. The final sale price exceeded the initial $14.3 million asking price. “It’s located very close to the railroad and Rockville Centre is very desirable.”
The sale closed on Monday.
The firm also announced the sale of an 8,332-square-foot shopping center at 270 E. Main St. in Patchogue for $7 million.
The owner of that property, 270 Main St. LLC, sold the strip center to Giannone Spirito Plaza LLC, according to the release. Tenants at the center include Checker’s, 7-Eleven and Bethpage Federal Credit Union.
“The recent improvements on Main Street in Patchogue, including the opening of new restaurants and the completion of New Village at Patchogue — a large multi-family development — gave the property additional appeal to the purchaser,” Guy Canzoneri, co-managing partner of Five Point, said in the statement.
The Patchogue sale closed in August.