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45 Old Montauk Highway, Mon...

Empire Group Of Companies Acquires Package Deal In Hamptons From Lorraine Bishop
SOLD

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

Sanjay Singh Sohal

Empire Group Of Companies

Buyer

$13.3M

vol

3 deals

Buyer

Lorraine Bishop

Seller

$11.8M

vol

2 deals

Seller

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