Market Intelligence
Westbury
Value-Add Mixed-Use & Redevelopment
Overview
Westbury is experiencing a commercial renaissance driven by transit-oriented development around the LIRR station. The downtown is being repositioned with new mixed-use projects that combine retail, residential, and office space. Higher cap rates than neighboring markets make Westbury attractive for value-add investors.
Rozita's Take
Westbury is where smart money is going right now. The cap rate spread versus Garden City or Great Neck is 100-150 basis points, but the fundamentals are improving rapidly. I've helped several investors acquire mixed-use properties here at 7%+ caps that are now repositioning into much stronger performers. This is a classic value-add play.
Market Data
Demographics
Diverse, revitalizing downtown. Strong rental market. Growing food/entertainment scene.
Major Employers & Tenants
Local retail, restaurant, service businesses, NYCB Theatre
Key tenant types: Local retail, restaurants, service businesses
Zoning Information
MU (Mixed-Use) downtown. Transit-oriented development overlay near LIRR.
Transportation Access
Westbury LIRR — 42 min to Penn. Post Avenue, Old Country Road, Jericho Turnpike access.
Commute to NYC: 42 min LIRR