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212 Middle Neck Rd #230, Gr...

Jinsong Yang Acquires Development Site In Great Neck For $8M
SOLDDevelopment Site

Jinsong Yang Acquires Development Site In Great Neck For $8M

212 Middle Neck Rd #230, Great Neck, NY 11021, USA

$8,000,000

$142/SF

Building Size

56,025 SF

Asset Type

Development Site

Closing

Nov 6, 2019

AI

A development site located at 212-230 Middle Neck Road in Great Neck, Nassau County has been sold for a total of $8,000,000. The property spans a total of 56,025 square feet, resulting in a price per square foot of $143.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $8,000,000

The seller of the property was Ben & Jonathan Ohebshalom, while the buyer was Jinsong Yang from McKinley Homes. The transaction was facilitated by real estate brokers Daniel Abbondandolo, Rob Kuppersmith, and Dimitri Mastrogiannis from CushWake, as well as Kelly Koukou and Bradley Diamond from Lee Associates NYC.

Players

Dimitri Mastrogiannis

Broker

$47.9M

vol

6 deals

Broker
MH
McKinley HomesBuyer

Great Neck 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

1.98%

Cash-on-Cash

-0.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93