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Ted Doering Of Mid-Hudson Film LLC Purchases Development Site In Newburgh For $9 Million

Property Image
SOLD
$9,000,000

New York

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Development Site294,030 SF
Sold 12/20/2024
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Property Image
SOLD

Ted Doering Of Mid-Hudson Film LLC Purchases Development Site In Newburgh For $9 Million

302 Reverend Martin Luther King Jr Street

See Similar Deals
Development Site294,030 SF
Sold 12/20/2024
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$30
Total Square Footage:294,030 SF
Transaction Type:Sale

The asset involved in this transaction is a development site located at 302 North Water Street in Newburgh, New York, covering an area of 6.75 acres. It was sold for $9,000,000, resulting in a price per acre of $1,333,333.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $9,000,000
  • Address: 302 North Water Street
  • Market: Newburgh, New York
  • Acres: 6.75
  • Price Per Acre: $1,333,333
  • Buyer: Ted Doering - Mid-Hudson Film LLC
  • Seller: William Kaplan & Jonathan Gastik
  • Brokers: Erik Edeen & Will Suarez - Avison Young

In this transaction, the buyer is Ted Doering representing Mid-Hudson Film LLC, while the sellers include William Kaplan and Jonathan Gastik. The brokerage services were provided by Erik Edeen and Will Suarez from Avison Young, who facilitated the transaction between the parties involved.

Players

Will Suarez
5 deals$41.9M volume
BROKER

Erik Edeen
Avison Young
14 deals$383.2M volume
BROKER

Details

SOLD
IMAGE: Erik Edeen & Will Suarez DATE: 12/20/2024 ADDRESS: 302 North Water Street MARKET: Newburgh, New York. ASSET TYPE: Development Site BUYER: Ted Doering - Mid-Hudson Film LLC SELLER: William Kaplan & Jonathan Gastik BROKERS: Erik Edeen & Will Suarez - Avison Young (@Avison_Young_Global) SALE PRICE: $9,000,000 ACRES: 6.75 ~ PPA: $1,333,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10