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
$8,500,000
Building Size
—
Asset Type
—
Closing
Apr 27, 2022
About this deal
AI
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.
East Hampton CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93