Jinsong Yang Acquires Development Site In Great Neck For $8M
SOLD
$8,000,000
+ 1
New York
See Similar DealsDevelopment Site56,025 SF
Sold 11/07/2019
SOLD
Jinsong Yang Acquires Development Site In Great Neck For $8M
212 Middle Neck Rd #230, Great Neck, NY 11021, USA
See Similar DealsDevelopment Site56,025 SF
Sold 11/07/2019
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$142
Total Square Footage:56,025 SF
Transaction Type:Sale
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
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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