Updated Sep 30, 2025
Brookfield Asset Management Acquires Development Site In Hicksville For $45M
125 New South Road, Hicksville, NY 11801, USA
$45,000,000
$14,062/SF
Building Size
3,200 SF
Asset Type
Development Site
Closing
Aug 16, 2020
About this deal
AI
Brookfield Asset Management has acquired a development site located at 125 New South Road in Hicksville. The property spans approximately 15 acres and was sold for a price of $45,000,000. The seller, Simone Development Companies, was represented by Jim MacDonald, while the buyer was represented by Paul Leone of CBRE.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $45,000,000
- Address: 125 New South Road, Hicksville
- Market: Hicksville
- ACRES: 15
The buyer, Brookfield Asset Management, was represented by Bruce Flatt and Brian Kingston. The seller, Simone Development Companies, was led by Joseph Simone. The transaction took place on August 16, 2021.
On the Map
$45,000,000
$14,062/SF
Development Site
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Players
Hicksville Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93