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Near Montauk, Ny 11954, Usa

Empire Group Of Companies Acquires Package Deal In Hamptons For $5.89M
SOLDMultiFamily

Empire Group Of Companies Acquires Package Deal In Hamptons For $5.89M

Near Montauk, Ny 11954, Usa

$5,890,000

$245/SF

Building Size

12,000 SF

Asset Type

MultiFamily

Closing

Jan 6, 2023

AI

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.

Players

Sanjay Singh Sohal

Empire Group Of Companies

Buyer

$13.3M

vol

3 deals

Buyer

Lorraine Bishop

Seller

$11.8M

vol

2 deals

Seller

North Hampton, New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.69%

Cash-on-Cash

-0.77%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93