Updated Oct 29, 2024
CD Chen Purchases Industrial Development Site In Suffolk County For $1.4M
Horseblock Road Brookhaven, Ny, Usa
$1,400,000
$12/SF
Building Size
111,078 SF
Asset Type
Development Site
Closing
Aug 31, 2023
About this deal
AI
An industrial development site located at Horseblock Road & Old Medford Ave in Suffolk County has been sold for $1,400,000. The site spans 2.55 acres and has a total square footage of 111,078. The buyer in this transaction was CD Chen, while the seller was AD Enterprises. The deal was facilitated by Michael Gronenthal from Douglas Elliman.
Summary of transaction details
- Property Type: Industrial Development Site
- Transaction Amount: $1,400,000
- Address: Horseblock Road & Old Medford Ave, Suffolk County
- Acreage: 2.55
- Price Per Acre: $549,000
- Square Footage: 111,078
CD Chen and AD Enterprises were the key individuals involved in this property transaction. The deal was facilitated by Michael Gronenthal, a broker representing CD Chen from Douglas Elliman.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93