Cutter Mill Plaza shopping center sold for $4.8M

Cutter Mill Plaza, a strip shopping center in the Village of Great Neck Plaza, has been sold for $4.8 million, according to a news release.

The property, located at 25 Cutter Mill Rd., was sold by private owner 25 Cuttermill Road Realty Corp. to Nassimi Realty LLC, a Manhattan-based real estate investment firm. Seven of the strip’s 10 retail spaces are occupied.

The strip “is an ideal retail destination,” Benjamin Efraimov, a broker with Cushman & Wakefield, said in a statement. Kevin Schmitz of Cushman also worked on the deal.

The 11,250-square-foot property has a 4,160-square-foot basement and a 2,470-square-foot mezzanine.

CORRECTION: A previous version of this story included an incorrect sales price.