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20 Pinehurst Drive

Updated Sep 9, 2024

Shasho Pole Acquires Industrial Building In Bellport For $5.3M
SOLDIndustrial

Shasho Pole Acquires Industrial Building In Bellport For $5.3M

20 Pinehurst Drive

$5,300,000

$276/SF

Building Size

19,172 SF

Asset Type

Industrial

Closing

Feb 17, 2023

About this deal

AI

A 19,172 square foot industrial building located at 20 Pinehurst Drive in Bellport has been sold for $5,300,000. The property was purchased by Shasho Pole from the seller, Anthony Leoni.

Summary of transaction details:

  • Property Type: Industrial
  • Sale Price: $5,300,000
  • Square Footage: 19,172
  • Price per Square Foot: $276
  • Address: 20 Pinehurst Drive, Bellport
  • Market: Bellport

Michael Gronenthal and Michael Murphy of Douglas Elliman Commercial represented the seller, Anthony Leoni, in this transaction. They previously sold the same industrial building to the seller one year ago for $4,000,000, with a price per square foot of $208. The industrial market in Long Island remains strong, with many buildings trading at over $200 per square foot. This sale at $276 per square foot sets a new record for similar sale comps in the Medford area and most industrial comps in Suffolk County.

On the Map

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$5,300,000

$276/SF

Industrial

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Players

Michael Gronenthal

Douglas Elliman

Broker

$110M

vol

41 deals

Broker
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Market Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $276 per square foot on a published $5.3M for 19,172 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.99%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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