News & Press

OSI’s former Melville site sold to developers

The former headquarters of OSI Pharmaceuticals Inc., on Pinelawn Road in Melville, has been purchased by a pair of developers who hope to lease it out to a large corporate tenant.
 
Damianos Realty Group LLC of Smithtown and Little Rock Construction and Properties Inc. in East Setauket bought the 62,000-sqaure-foot building, designed by renowned architect Richard Meier, in a deal that closed Wednesday. Although the purchase price was not disclosed, it was bought for less than the asking price of $8 million, said X. Cristofer Damianos, principal at Damianos Realty.
 
“It’s a great building in a great area,” he said. The modernistic building whose design has been praised by critics, was built […]

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Damianos Realty Group LLC Announces Newest Acquisition

ISLANDIA, NY-Damianos Realty Group LLC, one of the largest property owners on Long Island, has purchased 3001 Expressway Drive North, a 40,000-square-foot office building in Islandia for $3.85 million, or $96 dollars per square foot, the company announced. The all-cash transaction marks the family’s newest Suffolk County asset in its 22-building Long Island-based portfolio. The seller, Spencer Savings SLG of Elmwood Park, NJ, acquired the property through a foreclosure proceeding against RJP Realty Co. Constructed in 1980, the building is located on both sides of the Long Island Expressway between Veterans Memorial Highway and Motor Parkway. It is currently 50% occupied by medical tenants such as HealthSource, Stony Brook University […]

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Damianos Realty Group Gives Back to Smithtown

John Damianos, one of the principal owners in a family-owned group of real estate owners and developers, has been in the commercial real estate business for 30 years. Damianos Realty LLC relocated its offices to Smithtown since it began and has since immersed itself in the community, sponsoring the Chamber of Commerce’s annual “Running of the Bull” race Oct. 2, in memory of Courtney Sipes. “This year’s 5K was absolutely the best one we’ve had in the past five years,” said Barbara Franco, executive director of the Smithtown Chamber of Commerce. “The Damianos team did such a fabulous job.” The relocation was also beneficial for business, according to Damianos. “We […]

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