By David Winzelberg
Long Island Business News
A growing Long Island tech firm has purchased an office building in Plainview to facilitate the company’s ongoing expansion.
Melville-based Nastel Technologies, acquired the 28,000-square-foot office building at 88 Sunnyside Blvd. for $2.8 million in a deal that closed in December.
The building, which is about half occupied, was purchased via a deed-in-lieu-of foreclosure and Nastel will soon relocate there from its 8,000 square feet of leased space at 48 South Service Road, where it’s been since 2000.
David Mavashev, Nastel’s founder and CEO, said that his company will likely occupy about 14,000 square feet initially, but could expand its footprint further at the Plainview property as space becomes available.
Nastel, which has U.S. satellite offices in Boston, Houston and Denver, also maintains an international presence with sites in the United Kingdom, France, Germany and India.
The company is best known for developing AutoPilot, a widely used monitoring platform which ensures that corporate computer systems and mission-critical applications can run without interruption and with high performance. Nastel’s AutoPilot also alerts for potential problems that could be looming on the horizon.
“It’s proactive,” Mavashev says. “It has built-in analytics.”
Nastel’s clients cover a wide variety of businesses, including financial institutions such as Citibank and TD Bank, electronics retailer Best Buy, computer hardware maker Dell and French food products giant Danone.
Charles Rich, Nastel’s vice president of product management, said the company’s ability to process and analyze big data has become a crucial component in its success.
“A lot of companies are looking to leverage computer and software technology in areas of their business where they were never applied before in hopes of finding new revenue opportunities,” Rich said. “The ability to track each step in a transaction from mobile devices through middleware to mainframes helps our customers understand an end-to-end view of their business.”
Two months ago, Nastel was named a visionary for application performance monitoring by the Gartner Group, a Stamford, Conn.-based analyst firm.
Mavashev, who emigrated from Tajikistan to Israel before coming to the U.S. in 1980, is a 37-year veteran of the computer industry. He worked as a programmer for Manufacturers Hanover and Citibank in the 1980s, where he pioneered home banking systems. In 1991, Mavashev developed a messaging product for a joint venture between IBM and Systems Strategies before forming Nastel in 1994.
When asked about alleged foreign attempts to compromise computer systems or sway an election, the Soviet émigré acknowledged that there is “continuous hacking going on from different countries against each other,” including Russians against the U.S. and the U.S. against Russia or China and others.
“In today’s technological environments there is always exposure for electoral devices to be hacked,” Mavashev said. “Our software can be used to detect potential security bridges and attacks before they occur. We can also provide forensics to quickly identify and pre-empt the hackers.”
Meanwhile, Mavashev is preparing to relocate the Nastel executive offices to its new digs.
“The building is a terrific owner/investor property because of its unique design which allows for smaller tenants,” said Brian Lee, a broker with Newmark Grubb Knight Frank, who represented the seller, GP Legacy, in the Plainview sale. “It’s very unusual to find a building of this size that is 50 percent vacant for an owner/occupant with the rest leased to create a positive income stream.”
Mike Aievoli of JLL represented Nastel in the building acquisition and the company’s new property is being managed by Garden City-based ACC Real Estate Services.
“It’s our job to maintain a professional working environment for Nastel and its other building tenants,” said John Proscia, ACC’s CEO.
Mavashev says the price for the Plainview property–just $100 a square foot—was attractive and presented a unique opportunity for his company.
“We want to be able to grow,” he said.