Empire Group Of Companies Acquires Package Deal In Hamptons For $5.89M
SOLD
National
See Similar DealsMultiFamily24,000 SF
Sold 01/06/2023
SOLD
Empire Group Of Companies Acquires Package Deal In Hamptons For $5.89M
Near Montauk, Ny 11954, Usa
See Similar DealsMultiFamily24,000 SF
Sold 01/06/2023
Summary
Asset Type:MultiFamily
Price Per Square Foot:$245
Total Square Footage:24,000 SF
Transaction Type:Sale
The property involved in this transaction is located at 45 Old Montauk Hwy in the Hamptons. It is a package deal, consisting of an asset with a total square footage of 2,300. The sale price for this property was $5,890,000, resulting in a price per square foot of $2,561.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $5,890,000
- Buyer: Empire Group Of Companies - Sanjay Singh Sohal
- Seller: Lorraine Bishop
- Address: 45 Old Montauk Hwy
- Market: Hamptons
- Square Footage: 2,300
- Price Per Square Foot: $2,561
The buyer in this transaction is Empire Group Of Companies, represented by Sanjay Singh Sohal. The seller is Lorraine Bishop.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,925.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,921.60
Annual Debt Service$335,059.26
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