Mineola industrial portfolio sells for $16M

Mineola industrial portfolio sells for $16M
Photo courtesy of Google Maps

A portfolio of industrial properties in Mineola has been sold to a Long Island developer for $16 million.

The portfolio on East 2nd Street, consisting of two buildings totaling 163,000 square feet on about 5 acres, was the long-time home of A.K. Allen Co. and subsidiaries Allenair Corp. and Allen Avionics, makers of air cylinders, pumps and parts for aviation and other industries.

Bethpage-based Steel Equities purchased the properties at 222-234 E. 2nd St. and 235-255 E. 2nd St. and plans to redevelop them into a multi-tenant industrial complex.

Allenair’s Mineola operations were closed in 2017 after the firm was acquired by Ohio-based Alkon Corp. The company, founded by Alton Allen in Brooklyn in 1945, was headquartered in Mineola since 1958.

Willy Becker and Tony Gerrato of Racanelli Becker & Associates represented the buyer, while Jason Miller and Jeff Schwartzberg of Premier Commercial Real Estate represented the seller in the sales transaction.

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