Updated Dec 20, 2023
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
Medford 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93