Empire Group Of Companies Acquires Package Deal In Hamptons From Lorraine Bishop
45 Old Montauk Highway, Montauk, New York 11954, United States
$5,890,000
$2,945,000/SF
Building Size
2 SF
Asset Type
—
Closing
Jun 1, 2023
AI
The property involved in this transaction is located at 45 Old Montauk Hwy in the Hamptons. It is part of a package deal, and the sale took place on January 6, 2023. The property has a total area of 2,300 square feet and was sold at a price of $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
In this transaction, the buyer was represented by Sanjay Singh Sohal from the Empire Group Of Companies. Lorraine Bishop acted as the seller. The deal represents a successful acquisition for the buyer at the aforementioned price.
Players
Montauk 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93