$12M to Buy Clinton Pavilion in Hempstead, Another $3M to Renovate

Investors reportedly paid $11.75 million for The Clinton Pavilion, a 150,000-square-foot office tower at 50 Clinton St. in Hempstead, NY, also known as Hempstead Executive Plaza.

The new owners, a joint venture between the Alpha Equity Group and Vasco Ventures, are planning $3 million in renovations to the lobby, landscaped plaza, building infrastructure and a new facade design (pictured).

“We hope to build a mutually beneficial relationship with the town, and create a finished building that I can be proud of as much as the people of Hempstead will be with a trophy building in the epicenter of the town,” said William Segal of Alpha Equity Group.

David Sargoy, Irwin Rachlin and Sam Gelman of Brown Harris Stevens represented the seller.

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