Empire Group Of Companies Acquires Package Deal In Hamptons From Lorraine Bishop
SOLD
New York
See Similar Deals2 SF
Sold 06/01/2023
SOLD
Empire Group Of Companies Acquires Package Deal In Hamptons From Lorraine Bishop
45 Old Montauk Highway, Montauk, New York 11954, United States
See Similar Deals2 SF
Sold 06/01/2023
Summary
NEW YORK
Price Per Square Foot:$2,945,000
Total Square Footage:2 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$314,133.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,925.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,921.60
Annual Debt Service$335,059.26
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