Updated Dec 4, 2024
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
$14,642,571
$55/SF
Industrial
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Players
Smithtown Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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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