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1 Garvies Point Road
Oyster Bay, NY 11542
Richard Matt Shane with All Island Estates Realty Corp, original listing - (516) 783-5600
$19,888,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
82277 Square Feet
Property Description
Calling All Investors, Developers, & End-Users!!! 6+ Acre Mixed-Use Property/Development Site In Glen Cove For Sale!!! The Property Features Multiple Warehouses, High 20' Ceilings, Excellent Signage, Great Exposure, Outdoor Storage, Strong MW3 Zoning, 308 Parking Spaces, 83,000 Sqft. Of Warehouse/Retail Space, 7,000 Sqft. Of Office Space, Security Gates, 3 Ton Crane, Sprinklers, 8 Overhead Drive-In Doors, 3 Loading Docks, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Glen Cove At Garvies Point Across From The Glen Cove Ferry Terminal!!! The Property Is Situated Near Garvies Point Museum & Preserve, Garvies Point Park & Mercadante Beach!!! Neighbors Include Land Rover, Lexus, Volvo, Subaru, Stop. & Shop, Mobil, AMC Theaters, Panera Bread, Tropical Smoothie Cafe, Petco, Advance Auto Parts, Wendy's, YMCA, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: AA Consulting Services (Parking): $10,800 Ann.; M-M. AJ Gallo & Co. Contracting (Parking): $13,200 Ann.; M-M. Arthur Niewiadomski (Parking): $4,200 Ann.; M-M. Avalon Deco Supplies (4,500 Sqft.): $54,024.42 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. BLK Landscaping, Inc. (Parking): $7,200 Ann.; M-M. Bob Kroll (Parking): $1,200 Ann.; M-M. Choe Natural Products (550 Sqft.): $12,155.49 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. David Shea (Parking): $3,000 Ann. M-M. Dollar Plus Distribution (600 Sqft.): $8,103.66 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/24. Drayrock Haulage Inc. (Parking): $3,600 Ann.; M-M. DH Performance (1,800 Sqft.): $24,310.99 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Glova Recycle (20,000 Sqft.): $315,142.47 Ann.; 3% Ann. Inc.; Lease Exp.: 3/31/28. Icrew USA, Inc. (500 sqft.): $10,608.20 Ann.; 3% Ann. Inc.; M-M. Expo Furniture Design, Inc. (2,300 Sqft.): $29,112.96 Ann.; 3% Ann. Inc.; M-M. Fit 4 Life (3,500 Sqft.): $48,381.44 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Garvies Point Brewing Co. (4,425 Sqft.): $71,086.72 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Gus Hausser (Parking): $1,800 Ann.; M-M. Dale Saltsberg (Parking): $2,400 Ann.; M-M. Jeffrey Langiulli (Parking): $2,400 Ann.; M-M. Josie's Pizza Bar (3,800 Sqft.): $54,024.43 Ann.; 3% Ann. Inc.; M-M. Jose Orlando Salmeron (Parking): $7,800 Ann.; M-M. J U Contracting (Parking): $25,200 Ann.; Lease Exp.: 12/31/26. Kings Produce (8,900 Sqft.): $108,009.82 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Icrew USA (500 Sqft.): $10,433.47 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Larry David (Parking): $3,000 Ann.; M-M. Guzman Construction. (Parking): $1,800 Ann.; M-M. MJN Landscaping (Parking): $2,520 Ann.; M-M. Michael Orban (Parking): $2,400 Ann.; M-M. Next Step Controls (400 Sqft.): $5,402.44 Ann.; 3% Ann. Inc.; M-M. NUR NY O1, Inc. (Parking): $5,402.44 Ann.; 3% Ann. Inc.; M-M. Oil For Less (Parking): $9,000 Ann.; M-M. Oil For Less Boat (Parking): $1,800 Ann.; M-M. Paragon Woodworks (600 Sqft.): $7,200 Ann.; M-M. ROFEN Media Group LLC (600 Sqft.): $7,416 Ann.; M-M. Ryan Hahn Boat Storage (Parking): $2,400 Ann.; M-M. RSA Catering LLC (7,500 Sqft.+ Parking): $86,890.80 Ann.; Lease Exp.: 12/31/26. RXR Realty (Parking): $98,880 Ann.; Lease Exp.: 12/31/26. SAE Manufacturing Specialties (1,326 Sqft.): $21,642 Ann.; Lease Exp.: 12/31/26. Sid's All American (2,000 Sqft.): $25,020.05 Ann.; 3% Ann. Inc.; M-M. Slim & Trim/Best Spice (940 Sqft.): $9,737.91 Ann.; 3% Ann. Inc.; M-M. Sue Tsai Studios (2,900 Sqft.): $35,821.57 Ann.; 3% Ann. Inc.; M-M. Supremacy Services, Inc. (Parking): $2,701.22 Ann.; 3% Ann. Inc.; M-M. Serve Well Electric (Parking): $13,200 Ann.; M-M. Tax Consultants (Office): $5,400 Ann.; M-M. Triboro HVACR, Inc. (380 Sqft.): $8,103.66 Ann.; 3% Ann. Inc.; M-M. Wilson Martial Arts (3,540 Sqft.): $59,669.85 Ann.; 3% Ann. Inc.; Lease Exp.: 12/31/26. Uger Sentur
Property Information
Lot Size
0 sqft square ft
Property Type
Commercial Sale-Other
Year Built
1959
MLS Number
--
Location
Address
1 Garvies Point Road
City
Oyster Bay
State
NY
Zip Code
11542
County
NASSAU (NORTH)
Listing
Name
Phone
(516) 279-8828
Office Name
Office Phone
(516) 783-5600
Agent Name
Richard Matt Shane
Agency Phone
(516) 783-5600

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.