News & Press

CoStar: Long Island Firm Pays $32M for Hauppauge Office Building

Damianos Realty Group, a local investment ærm that owns more than 1 million square feet of commercial space throughout Long Island, purchased a Class A ofæce building totaling 210,000 square feet in Hauppauge from Briar Meads Capital for $32 million, or about $152 per square foot.

The six-story structure at 100 Motor Parkway is leased to major tenants including Peoples United Bank, First Empire Securities, Wells Fargo, Stewart Title, law ærms Farrell Fritz and Certilman Balin and VHB Engineering. Built in 2002, the 4-Star property spans nearly 20 acres less than three miles from the Brentwood train station.

Designed by Mojo Stumer Associates and The Baldassano Architectural Group, the building amenities include multiple conference facilities, state-of-the-art ætness center, full service café, high-end ænishes throughout, on-site property management and security guard and abundant parking.

Damianos Realty Group tapped James Acunto of Innersite Interior Design to modernize the lobbies, hallways and bathrooms. The company also plans to improve the parking lot, landscaping, signage, roof and mechanical equipment.

Seth Berkowitz represented the seller in-house. John Finn provided in-house representation on behalf of the buyer.

Please refer to CoStar COMP #4632449 for additional information regarding this transaction.

By: Taylor Damm

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