Lalezarian Developers buys Mineola office building for $23.5M

Noah Manskar

Lalezarian Developers has bought an office building at 330 Old Country Road in Mineola, less than a quarter-mile from its 315-unit apartment building.

The New Hyde Park-based company behind the residential development at 250 Old Country Road purchased the 107,071-square-foot property located in Mineola’s downtown area for $23.5 million last week, real estate listings say.

Kevin Lalezarian, one of the firm’s partners, told Mineola Trustee Dennis Walsh last Thursday that he plans to keep renting the building to its current tenants, Walsh said.

In their conversation, Walsh said, Lalezarian also said he thinks office space in downtown Mineola will become more valuable as more apartments open in the area.

Lalezarian did not respond to requests for comment.

Lalezarian’s residential developments are among a few new apartment buildings aiming to bring young commuters into Mineola and revitalize the village’s downtown.

The company has also proposed an eight-story development for 199 Second St. known as Village Green, which the village board approved in May.

Lalezarian Developers is currently applying for tax breaks on the project from the Nassau County Industrial Development Agency.

Another building, Mill Creek Residential’s Modera Mineola at 140 Old Country Road, opened earlier this year and is about 40 percent full, according to the developer’s estimates.

Mill Creek has proposed another development for a property currently owned by the Corpus Christi School.

Mineola’s Board of Trustees scheduled a public hearing about that project for its Oct. 21 meeting.

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