Real estate firm sells Hicksville industrial site for 10 times its investment
One of the last large tracts of industrial property in Nassau County sold to a global asset management firm for more than 10 times the price paid for the 15-acre site less than four years ago.
Brookfield Asset Management spent $45 million on the Hicksville property, sources familiar with the sale said. Brookfield’s real estate fund plans to build a 300,000-square-foot warehouse distribution hub.
The deal was announced Monday by the seller, Simone Development Companies, a Bronx-based real estate investment firm that paid $4.42 million for the land in December 2017, according to a deed.
Finding a large property in Nassau County that can be used for industrial work without zoning changes is quite a feat,…