Candor Capital Acquires Hauppauge Industrial Property For $12.1M
SOLD
$12,100,000
New York
See Similar DealsIndustrial57,000 SF
Sold 10/19/2023
SOLD
Candor Capital Acquires Hauppauge Industrial Property For $12.1M
185 Commerce Drive
See Similar DealsIndustrial57,000 SF
Sold 10/19/2023
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$212
Total Square Footage:57,000 SF
Transaction Type:Sale
The industrial property located at 185 Commerce Drive in Hauppauge has been sold in a transaction. The property spans approximately 57,000 square feet and was sold for a price of $12,100,000, resulting in a price per square foot of $212. The sale took place on 10/19/2023.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,100,000
- Address: 185 Commerce Drive, Hauppauge
- Square Footage: 57,000
The buyers of the property are Ben Meshel and Adam Ibrahim, representing Candor Capital. The sellers of the property are Widex. The transaction was facilitated by Chelsea Mandel from Ascension.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$645,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,988.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,360.17
Annual Debt Service$688,322.08
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