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Newsday: Smithtown real estate firm buys Hauppauge building for $32 million

Posted on January 9, 2019

Smithtown-based real estate firm Damianos Realty Group has purchased a six-story office building in Hauppauge for $32 million.

The 210,000-square-foot building, located at 100 Motor Pkwy., was built in 2002 and overlooks the Long Island Expressway. Damianos, which plans to make additional investments to update the property, purchased the building from BM-12 Holding Company LLC.

“We try to find buildings with really good bones and we spend a lot of time, effort and money and we try to make them as good as they can be,” said X. Cristofer Damianos, principal of Damianos Realty. “It really is a nice building. We’ve always eyed it.”

Damianos said his company plans to invest as much as $10 million in the property to modernize the lobbies, hallways and bathrooms and may possibly add a Bose sound system for ambient music. The company will also make improvements to the parking lot, landscaping and roof, he said.

Tenants at 100 Motor Pkwy. include Peoples United Bank, First Empire Securities and Wells Fargo. The building is adjacent to 102 Motor Pkwy., the corporate headquarters of Teachers Federal Credit Union.

By Victor Ocasio, Newsday



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