Marcus & Millichap Inc.
08/08/2024 | Press release | Archived content
Marcus & Millichap Lists Prime Cold Spring Harbor Development Site for $5 Million
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Marcus & Millichap Lists Prime Cold Spring Harbor Development Site for $5 Million
August 08, 2024
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NEW YORK, August 8, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the exclusive listing of a prime development opportunity located at 82 E Gate Drive in Cold Spring Harbor, New York. The offering price is $5 million.
"This property is an irreplaceable piece of real estate, offering convenience with its prime location adjacent to the Long Island Railroad," said Michael Tuccillo. "Opportunities like this are rare, especially in a market with such high demand and limited supply." Tuccillo, investment specialist in Marcus & Millichap's Manhattan office, has the exclusive listing and is presenting this opportunity on behalf of the seller, a New York-based private investor.
The property, situated on nearly 4 acres, includes 3.5 acres in Cold Spring Harbor and 20,000 square feet in Woodbury. It is part of the Cold Spring Hills Civic Association and located near Oheka Castle. The property is zoned R-HS (Residential Health Services District), making it ideal for the development of condos, apartments, assisted living facilities, or senior housing. The area is experiencing growing demand due to a lack of supply and high need for housing, supported by its proximity to major hospitals, school districts, golf courses, beaches, shopping, and entertainment options.
"This property is an irreplaceable piece of real estate, offering convenience with its prime location adjacent to the Long Island Railroad," said Michael Tuccillo. "Opportunities like this are rare, especially in a market with such high demand and limited supply." Tuccillo, investment specialist in Marcus & Millichap's Manhattan office, has the exclusive listing and is presenting this opportunity on behalf of the seller, a New York-based private investor.
The property, situated on nearly 4 acres, includes 3.5 acres in Cold Spring Harbor and 20,000 square feet in Woodbury. It is part of the Cold Spring Hills Civic Association and located near Oheka Castle. The property is zoned R-HS (Residential Health Services District), making it ideal for the development of condos, apartments, assisted living facilities, or senior housing. The area is experiencing growing demand due to a lack of supply and high need for housing, supported by its proximity to major hospitals, school districts, golf courses, beaches, shopping, and entertainment options.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.