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422 Sills Road, Medford, NY...

Updated Dec 20, 2023

George Lewis Acquires 10-Acre Development Site In Suffolk County For $3.5M
SOLDDevelopment Site

George Lewis Acquires 10-Acre Development Site In Suffolk County For $3.5M

422 Sills Road, Medford, NY 11763, USA

$3,500,000

$8/SF

Building Size

435,600 SF

Asset Type

Development Site

Closing

Oct 18, 2021

About this deal

AI

The development site located at 422 Sills Rd in Suffolk County has been sold for a price of $3,500,000. The property spans across 10 acres and was sold in a transaction that took place on October 18, 2021.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $3,500,000
  • Market: Suffolk County
  • Address: 422 Sills Rd
  • Buyer: George Lewis
  • Seller: Amit Gera
  • Broker: Michael Murphy - Douglas Elliman

Michael Murphy from Douglas Elliman represented the buyer and seller in this transaction. The buyers, George Lewis, acquired this development site from the seller, Amit Gera. Douglas Elliman's Commercial Division, known for their expertise in handling commercial real estate requirements, facilitated and closed the deal successfully.

For anyone looking for assistance with commercial real estate needs, whether it's for landlords, tenants, investors, or first-time buyers, Douglas Elliman's Commercial Division is equipped to handle projects of any size and complexity.

Players

Michael Murphy

Douglas Elliman

Broker

$104.9M

vol

24 deals

Broker

Amit Gera

Seller

$4.3M

vol

2 deals

Seller

Medford Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Deal FAQ

About $8 per square foot on a published $3.5M for 435,600 square feet (2021).

Visit Michael Murphy to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.53%

Cash-on-Cash

-1.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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