facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Industrial

/

Sale

/

25 NY-111 Smithtown, NY 117...

Updated Dec 4, 2024

Cushman & Wakefield Sells Long Island Post Office Portfolio For $14.64M
SOLDIndustrial

Cushman & Wakefield Sells Long Island Post Office Portfolio For $14.64M

25 NY-111 Smithtown, NY 11787, USA, 65 East Hoffman Avenue, 446 Willis Avenue & 1 Babylon Turnpike

$14,642,571

$55/SF

Building Size

66,022 SF

Asset Type

Industrial

Closing

May 10, 2024

About this deal

AI

The Long Island Post Office Portfolio includes four assets totaling over 66,000 square feet and situated on a combined 4.31 acres. These purpose-built facilities, located in Smithtown, Lindenhurst, Williston Park, and Roosevelt, have been continuously occupied by USPS, providing a stable cash flow from a government-backed tenant. The portfolio was sold for $14,642,571, equating to $222 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $14,642,571
  • Address: 25 Route 111, 65 East Hoffman Avenue, 446 Willis Avenue & 1 Babylon Turnpike
  • Market: Smithtown, Lindenhurst, Williston Park & Roosevelt

The exclusive brokers from Cushman & Wakefield who facilitated this successful sale are Nicholas Gallipoli, Daniel Abbondandolo, and Joegy Raju. Dan Abbondandolo serves as the Executive Director, reachable at 516-375-6336 or via email at [email protected]. Meanwhile, Nick Gallipoli, the Managing Director, can be contacted at 631-926-2868 or [email protected].

On the Map

Open live map

$14,642,571

$55/SF

Industrial

View full map

Players

Daniel Abbondandolo

Cushman & Wakefield

Broker

$536.2M

vol

88 deals

Broker
Bilt advertisement

Smithtown Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Deal FAQ

About $55 per square foot on a published $14.6M for 264,088 square feet (2024).

Visit Nicholas (Nick) Gallipoli to view all their deals.

Browse New York industrial sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets