Milvado Flipping Westbury Office Building For $16M

After buying a Westbury office property for $12.3 million late last year, Milvado Realty Group is selling it for $16 million.

Syosset-based Milvado had purchased the 78,909-square-foot building on 2.1 acres at 615 Merrick Ave., where it had planned a $4 million renovation project. Milvado received preliminary approval for economic incentives from the Town of Hempstead Industrial Development Agency to assist in acquiring and renovating the property, which was the former headquarters of NYCB Bancorp.

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