FOCUS:
Lake Success, NY
2017-12-06T15:20:54+00:00

Project Description

Lake Success, NY

Lake Success, NY

Neighborhood Vibes

Lake Success is in the Town of North Hempstead in northwest Long Island. It is a village within the town of Great Neck. Lake Success borders the Little Neck neighborhood in the borough of Queens. William K. Vanderbilt II bought land around the lake in the early 20th Century for a home. The village was incorporated in 1926. Lake Success was the temporary home of the United Nations from 1946 to 1951, occupying the headquarters of the Sperry Gyroscope Company on Marcus Avenue. It was the home of Canon U.S.A. Canon U.S.A. has since moved its corporate headquarters to Melville, New York (in neighboring Suffolk County).

In 1939, the United States government bought a large tract between Marcus Avenue, Lakeville Road and Union Turnpike, to be the home to the Sperry Gyroscope Company which built a variety of maritime, military, aerospace and navigation products. After the war, part of the plant became the temporary headquarters of the United Nations from 1947 to 1952, while its headquarters building in New York City was being built. The 1,500,000-square-foot facility continued to be used by various companies to build defense products over ensuing decades. It was purchased by Lockheed Martin in 1996. The company closed the plant in 1998 and began an environmental clean-up of the site overseen by the New York State Department of Environmental Conservation. Today, Lake Success is a major office center and a hub for the medical field, with NYU Langone, North Shore University Hospital and Northwell LIJ occupying much of the area. There remains a large inventory of commercial space there today and it continues to expand.

Market Data

OFFICE RENT RANGE

$27 – $40 PSF

VACANCY RATE

6.9%

RBA

12,577,000 SF

INDUSTRIAL RENT RATE

$10 – $16 PSF

VACANCY RATE

1.3%

RBA

3,761,000 SF

MEDIAN HOUSEHOLD INCOME

$121,779

POPULATION

6,002

Availabilities

TYPEOFFERED FORSIZEPRICEID#
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OfficeLease2,700 SF-12,000$33/SF+utilities112
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OfficeLease1,100 – 8,000 SF$26/SF+utilities113
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OfficeLease1,200-5,100 SF$33/SF+utilities114
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Office/MedicalLease3,000-6,000 SFPlease Inquire115
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OfficeLease2,100 SF$32/SF+utilities143
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OfficeSublease2,500-3,500 SFPlease Inquire144
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MedicalLease3,000 SF$32/SF+utilities145

Availabilities

Type: Office
Offered For: Lease
Size: 4,700 SF
Price: $33 FS
ID #: 112

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Type: Office
Offered For: Lease
Size: 2,734 – 4,200 SF
Price: $26 MG
ID #: 113

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Type: Office
Offered For: Lease
Size: 5,100 SF
Price: $32 MG
ID #: 114

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Type:
Office/Medical
Offered For: Lease
Size: 3,000 SF
Price: Withheld
ID #: 115

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Transportation

Lake Success is easily accessible by car with the Long Island Expressway and Northern Parkway close by as well as other major parkways and roads. The LIRR is accessible from neighboring New Hyde Park and many Nassau County bus options are close by as well. Major thoroughfares/corridors include Marcus Avenue, New Hyde Park Road and Lakeville Road. Proximity to Queens makes it an easy commute for both Long Islanders and New York City residents. Close to major NYC airports.

Public Transit

NICE: n24, n25

LIRR Port Jefferson Branch, New Hyde Park station

Attractions and Notable Landmarks

Stepping Stones Park, The Village Club, American Guitar Museum, Lake Success Shopping Center

Related Neighborhoods

Great Neck, New Hyde Park, Manhasset

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