Brookfield Asset Management Acquires Development Site In Hicksville For $45M
SOLD
$45,000,000
+ 2
New York
See Similar DealsDevelopment Site3,200 SF
Sold 08/16/2020
SOLD
Brookfield Asset Management Acquires Development Site In Hicksville For $45M
125 New South Road, Hicksville, NY 11801, USA
See Similar DealsDevelopment Site3,200 SF
Sold 08/16/2020
+ 2
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$14,062
Total Square Footage:3,200 SF
Transaction Type:Sale
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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