Steinkraus Family Acquires 60-Acre Island In Darien, CT For $100M
SOLD
$100,000,000
Connecticut
See Similar DealsSold 06/03/2022
SOLD
Steinkraus Family Acquires 60-Acre Island In Darien, CT For $100M
Great Island, Darien, Connecticut 06820, United States
See Similar DealsSold 06/03/2022
Summary
CONNECTICUT
Transaction Type:Sale
The Great Island in Darien, CT, spanning 60 acres, has been sold. The property was in contract and has been purchased by the Steinkraus Family. The seller in this transaction was the Town of Darien. The sale was facilitated by broker Jennifer Leahy of Douglas Elliman. The sale price for this island property was $100,000,000.
Summary of transaction details
- Property Type: Island
- Transaction Amount: $100,000,000
- Date: 06/03/2022
- Market: Darien, CT
- Broker: Jennifer Leahy - Douglas Elliman
This sale transaction involved the Steinkraus Family as the buyer and the Town of Darien as the seller. The deal was facilitated by Jennifer Leahy of Douglas Elliman as the broker. The Great Island, spanning 60 acres, was acquired in this transaction for a sale price of $100,000,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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