American Bailey Corp Acquires Office Building From Kings-Post Associates For $6.59M
315 Post Road West
$6,590,000
$205/SF
Building Size
32,000 SF
Asset Type
Office
Closing
Apr 19, 2024
AI
The property involved in the transaction is a 32,000 square-foot office building located at 315 Post Road West in Westport, CT. The sale price for this asset was $6,590,000, equivalent to a price per square foot of $206.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,590,000
- Address: 315 Post Road West
- Market: Westport, CT
- Buyer: Doug Bailey - American Bailey Corp
- Seller: Kings-Post Associates
- Brokers: Charlene O’Connell & Scott Peterson - Choyce Peterson
The deal was facilitated by commercial real estate brokerage firm Choyce Peterson, Inc. The property was sold on behalf of Kings-Post Associates to Post West Park LLC, an affiliate of American Bailey Corp.
Players
Westport Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.41%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93