Simi Capital Acquires Industrial Property In Long Island For $15 Million
SOLD
$15,000,000
New York
See Similar DealsIndustrial261,360 SF
Sold 11/10/2021
SOLD
Simi Capital Acquires Industrial Property In Long Island For $15 Million
80 East Jericho Turnpike, Mineola, NY, USA
See Similar DealsIndustrial261,360 SF
Sold 11/10/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$57
Total Square Footage:261,360 SF
Transaction Type:Sale
An industrial property located at 80 Jericho Turnpike in Long Island has been sold for $15,000,000. The property spans a total square footage of 261,360, resulting in a price per square foot of $57.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 80 Jericho Turnpike, Long Island
- Market: Long Island
- Buyer: Simi Capital - Andrew Skydell & Cerberus Capital Management
- Image: Andrew Skydell
- Date: 11/10/2021
- Square Footage: 261,360
- Price per Square Foot: $57
The buyer of the property is Simi Capital, represented by Andrew Skydell & Cerberus Capital Management.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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