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Stomp Capital Acquires Hotel In Southampton For $17M

Property Image
SOLD
$17,000,000

New York

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Hotel30,736 SF
Sold 04/21/2022
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Property Image
SOLD

Stomp Capital Acquires Hotel In Southampton For $17M

1655 County Road 39, Southampton, New York 11968, United States

See Similar Deals
Hotel30,736 SF
Sold 04/21/2022
Contact now

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$553
Total Square Footage:30,736 SF
Transaction Type:Sale

Located at 1655 County Road 39 in Southampton, this 40-acre hotel property was recently sold in a transaction facilitated by Anthony Cerio of Brown Harris Stevens. The property was acquired by Stomp Capital, represented by Richard Fertig, for a sale price of $17,000,000. The seller, Hampton Resorts LLC, handed over the keys to 62 hotel rooms.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $17,000,000
  • Market: Southampton
  • Address: 1655 County Road 39
  • Seller: Hampton Resorts LLC
  • Buyer: Stomp Capital - Richard Fertig
  • Broker: Anthony Cerio - Brown Harris Stevens
  • Acres: 40
  • Keys: 62
  • Price per Key: $274,193

Richard Fertig of Stomp Capital played a key role in acquiring this hotel property in Southampton. The transaction was successfully facilitated by Anthony Cerio, a representative from Brown Harris Stevens. The 40-acre property, with 62 hotel rooms, offers a lucrative investment opportunity in the bustling market of Southampton.

Players

Anthony Cerio
4 deals$17M volume
BROKER

Details

SOLD
IMAGE: Richard Fertig (@ImRichardFertig) DATE: 04/21/2022 ADDRESS: 1655 County Road 39 MARKET: Southampton ASSET TYPE: Hotel ~ ACRES: 40 BUYER: Stomp Capital - Richard Fertig SELLER: Hampton Resorts LLC BROKER: Anthony Cerio - Brown Harris Stevens SALE PRICE: $17,000,000 KEYS: 62 ~ PPK: $274,193

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

$906,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08