Damianos Realty Group acquires 55,000 s/f retail center for $16.1 million

New York Real Estate Journal - May 14, 2025

Commack, NY Damianos Realty Group LLC has acquired the retail center located at 2160 Jericho Tpke. The 55,000 s/f center, which is on six acres with access from both Jericho Tpke. and Veteran’s Memorial Hwy., was purchased for $16.1 million from Toy Fields LLC.

The property is 100% leased, making it a strong addition to Damianos Realty Group’s portfolio. The site is occupied by nationally recognized tenants including Applebee’s and PetSmart. Sanjha Bazaar, a local supermarket specializing in South Asian food services, opened in November of 2024.

“We see tremendous growth potential in this property and are confident that it will be a valuable asset for our company,” said Pelops Damianos of Damianos Realty. “This acquisition expands our retail footprint in the Suffolk County market and aligns perfectly with both our growth strategy and mission statement.”

This acquisition is Damianos Realty Group’s 11th property in the township of Smithtown and its third shopping center in Suffolk County.

John Finn, director of leasing and acquisitions at Damianos Realty said, “Its location on Jericho Tpke. and Veteran’s Memorial Hwy. offers unparalleled convenience for the community, and we look forward to offering a dynamic retail environment that meets the needs of local residents and businesses.”

The transaction was brokered by Adam Silber of Silber Investment Properties, representing Toy Fields LLC. Finn represented the buyer.

“We had such a great experience with John Finn and the rest of the Damianos Realty Group,” Silber said. “As a broker, you can’t ask for anything more than a buyer that is honest, decisive and informed about the market to help facilitate a smooth transaction.”