Port Washington-based BEB Capital has leased the former site of a steakhouse on Northern Boulevard in Great Neck to Biener Audi, the company announced on Tuesday, marking an expansion for the well-known North Shore dealership.
Union Prime Steak and Sushi, located at 661 Northern Blvd., closed in May and was operated by an affiliate of BEB Capital for four years, according to BEB Capital. Now, with a new 30-year lease, Biener Audi, located at 795 Northern Blvd., will gain more than acre of space.
The plan marks a considerable change for the 661 Northern Blvd. property, which had been home to steakhouses for at least 19 years. Union Prime Steak & Sushi had succeeded Burton & Doyle, which ran as a steakhouse since 1999, after Joseph Zangri and Bert Brodsky purchased the property in 2014.
BEB Capital lists its acquisition date of the property as October 2016. According to Nassau County land records, there was a $4.9 million “sale between companies” on Oct. 6, 2016.
“Since our focus primarily is on real estate, we took this step to ensure the long-term stability of our very well-located property in Great Neck by signing a long-established, highly regarded tenant like Biener Audi,” BEB Capital CEO Lee Brodsky said.
“We appreciate the popularity our restaurant enjoyed, but as real estate owners and managers first and foremost, we recognized that there is a better use for this choice asset,” Brodsky said.
Stanley and Andrew Weinstock, who head the 89-year-old car dealership, said the deal will help their business.
“We are extremely excited to continue the growth of our family owned and operated business,” the Weinstocks said in a statement. “This location will give Biener the opportunity to sell the finest pre-owned vehicles on Long Island in a premium environment that our loyal customers expect.”
Dan Oliver of Newmark Grubb Knight Frank was the leasing broker for BEB Capital, while Stephen Wolf of SW Reality Capital represented Biener in the transaction.