Sabre Investment Group Sells medical building a 975 Stewart Ave

Sabre Investment Group announced the recent $7 million sale of a 28,000-square-foot medical facility in Garden City currently double-net leased to Winthrop University Hospital.  

A private investor purchased the one-story, single-tenant building at 975 Stewart Ave., Garden City, N.Y., from Cardiovascular Medical Associates, a 200-employee practice.   Sabre Investment Group principals Corey Gluckstal and Guy Canzoneri represented both the seller and the buyer.  

In a double-net lease, the tenant is responsible for property taxes and building insurance.   CMA, which operates a fully accredited endoscopy suite with 3-D capability at the building, recently merged with Winthrop-University Hospital.  Winthrop University Hospital is the lessee at the subject property.  

Twenty-eight physicians specializing in cardiology, internal medicine, family medicine, endocrinology, gastroenterology and allergy and immunology, manage CMA.  

Sabre Investment Group, established earlier this year as an affiliate of Garden City, N.Y.-based Sabre Real Estate Group LLC, handles investment transactions in the Long Island and New York City markets.  The firm, which focuses exclusively on investment sales, has added four new brokers since its inception in May 2012.