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
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