Peconic Land Trust Acquires 2.7 Acre Land In East Hampton For $8.5M
SOLD
$8,500,000
New York
See Similar DealsSold 04/28/2022
SOLD
Peconic Land Trust Acquires 2.7 Acre Land In East Hampton For $8.5M
18 Jones Creek Lane, East Hampton, New York 11937, United States
See Similar DealsSold 04/28/2022
Summary
NEW YORK
Transaction Type:Sale
Located in East Hampton, a 2.7-acre plot of land at 18 Jones Creek Lane has recently been sold in a closed transaction. The property was purchased by Peconic Land Trust for a price of $8,500,000. The sellers, Ana Meier and Daniel Creighton, entrusted the sale of the land to Linda Batiancela from Town & Country Real Estate.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $8,500,000
- Address: 18 Jones Creek Lane, East Hampton
- Market: East Hampton
- Size: 2.7 Acres
The Peconic Land Trust successfully secured the purchase of the property, surpassing power couple Jay-Z and Beyoncé who were also interested in acquiring it. The deal was facilitated by Linda Batiancela, representing the buyers on behalf of Town & Country Real Estate.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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