Hildreth Real Estate Advisors Acquires Long Island Industrial Property For $3,075,000
SOLD
$3,075,000
+ 1
New York
See Similar DealsIndustrial22,500 SF
Sold 04/07/2022
SOLD
Hildreth Real Estate Advisors Acquires Long Island Industrial Property For $3,075,000
11 Center Court, Center Moriches, New York 11934, United States
See Similar DealsIndustrial22,500 SF
Sold 04/07/2022
+ 1
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$136
Total Square Footage:22,500 SF
Transaction Type:Sale
An industrial property located at 11-32 Center Ct. in Long Island was recently sold. The property, spanning 22,500 square feet, was sold in a closed transaction for a total price of $3,075,000, resulting in a price per square foot of $136. The buyer of the property was Hildreth Real Estate Advisors, represented by David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf. The seller of the property was William M. Familia.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,075,000
- Address: 11-32 Center Ct.
- Market: Long Island Industrial
- Buyer: Hildreth Real Estate Advisors - David Shorenstein, Jason Breitstone, Max Padway, and Yair Sarraf
- Seller: William M. Familia
This sale marks the first transaction of the property in over 30 years. Hildreth Real Estate Advisors acquired the property off-market, purchasing it at a price of $137 per square foot. No additional details were provided regarding the transaction.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$163,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,924.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,577.07
Annual Debt Service$174,924.83
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