Lesso Group Acquires The Mall at the Source, Adjacent Retail Building for $92 Million

The Mall at the Source is located in Westbury, roughly 30 miles outside New York City.  (Image courtesy of Wikimedia Commons) The Mall at the Source is located in Westbury, roughly 30 miles outside New York City. (Image courtesy of Wikimedia Commons)

Westbury, N.Y. — Lesso Group has acquired The Mall at the Source and an adjacent retail building, located at 1504 Old Country Road in Westbury, for $92 million.

Totaling 723,326 square feet, the transaction is the largest Long Island transaction to date. Lesso plans to convert the properties into a showroom and retail center for its household goods. The transaction includes the 512,528-square-foot enclosed mall and a 210,798-square-foot retail building, formerly occupied by Fortunoff. Situated on 38 acres and zoned for industrial space, the properties also feature 3,838 parking spaces, 2,813 of which are within a garage. Peter Rossi and Dennis Karr of Newmark Knight Frank represented the buyer in the deal. The name of the seller was not released.

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