Updated Dec 4, 2024
CD Chen Acquires Industrial Property In Hauppauge For $4.1M
500 Wheeler Road
$4,100,000
$225/SF
Building Size
18,200 SF
Asset Type
Industrial
Closing
Sep 20, 2023
About this deal
AI
The industrial property located at 500 Wheeler Road in Hauppauge was recently sold for a price of $4,100,000. The property spans 18,200 square feet, resulting in a price per square foot of $225. The sale transaction took place on September 20, 2023, and the buyer of the property was CD Chen.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,100,000
- Address: 500 Wheeler Road, Hauppague
- Square Footage: 18,200
- Price per Square Foot: $225
The seller of the property was Matthew Budd, representing Budd Property Group. Michael Gronenthal from Douglas Elliman served as the broker for the deal, facilitating the transaction between the buyer and the seller.
Market 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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93