Candor Capital Purchases Hospital In Riverhead From 372 Jericho For $23.8M
877 East Main Street
$23,800,000
$233/SF
Building Size
102,000 SF
Asset Type
Hospital
Closing
Mar 28, 2025
About this deal
AI
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.
On the Map
$23,800,000
$233/SF
Hospital
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Players
Riverhead Hospital Market Snapshot
Boundary boundary · Hospital · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93