Building Information

Property Name1101 Stewart Avenue, Garden City, New York
Building Size88,000 sq.ft.
Date PurchasedMarch 1997
Purchase Amount$3,875,000
Occupancy at Purchase40%
RepositioningLighthouse gutted the lobbies and rebuilt the entire east wing of the building, renovated the west wing and installed an entirely new infrastructure. Their additional capital investment was $1,900,000; by late 1998 the building was brought to 100% occupancy.
Sale DateMay, 2000
Sale PriceAvailable upon request
Occupancy in Year of Sale100%
NOI in Year of Sale$1,142,000, 2000 budgeted



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