Candor Capital Purchases Hospital In Riverhead From 372 Jericho For $23.8M
SOLD
$23,800,000
New York
See Similar DealsHospital102,000 SF
Sold 03/28/2025
SOLD
Candor Capital Purchases Hospital In Riverhead From 372 Jericho For $23.8M
877 East Main Street
See Similar DealsHospital102,000 SF
Sold 03/28/2025
Summary
NEW YORK
Asset Type:Hospital
Price Per Square Foot:$233
Total Square Footage:102,000 SF
Transaction Type:Sale
The asset involved in this transaction is a hospital located at 877 East Main Street in Riverhead. The property encompasses a total space of 102,000 square feet and was sold for a transaction amount of $23,800,000.00.
Summary of transaction details:
- Property Type: Hospital
- Transaction Amount: $23,800,000.00
- Address: 877 East Main Street
- Market: Riverhead
- Size: 102,000.0 SF
- Buyer: Candor Capital - Ben Meshel and Jeff Meshel
- Seller: 372 Jericho - Diane Macari
The deal featured Ben Meshel and Jeff Meshel representing Candor Capital as the buyers, while Diane Macari represented the seller, 372 Jericho. This transaction showcases significant participation from both parties in the sale process of the hospital property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,269,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$84,556.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,824.14
Annual Debt Service$1,353,889.71
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