Dylan Eckardt Sells 5-Acre Development Site In East Marion For $2.5M
SOLD
$2,500,000
New York
See Similar DealsDevelopment Site40,511 SF
Sold 03/10/2021
SOLD
Dylan Eckardt Sells 5-Acre Development Site In East Marion For $2.5M
17235 Main Rd, East Marion, NY, USA
See Similar DealsDevelopment Site40,511 SF
Sold 03/10/2021
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$61
Total Square Footage:40,511 SF
Transaction Type:Sale
A double-sided four lot development site in East Marion, Long Island has been sold for $2.5 million. The property, located at 17235 Main Rd., spans an impressive 5 acres. The sale was facilitated by Dylan Eckardt of Nest Seekers, who managed to close the deal within just 24 hours, without any contingencies.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,500,000
- Address: 17235 Main Rd.
- Market: East Marion
- Acres: 5
The successful transaction was handled by Dylan Eckardt, also known as "The Prince of Real Estate." Although the buyer's identity has not been disclosed, it is rumored that one of Dylan's celebrity clients was the purchaser. The swift completion of this multi-million dollar deal showcases Dylan's expertise and prowess in the real estate industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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