WTI Inc. Purchases Property From Jedco LLC In East Hampton For $6.18 Million
273 Main St, East Hampton, NY, 11937
$6,180,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 19, 2023
About this deal
AI
The property asset involved in this transaction is located at 273 Main St, Amagansett, NY, 11937. The sale price was $6,180,000.00 for a hospitality property on a 1.95-acre site, which features a house, cottages, and a converted barn with a total of 14 guest rooms. The market value has been defined as Amagansett. The square footage of the buildings involved in this transaction is not specified.
Summary of transaction details:
- Property Type: Hospitality
- Transaction Amount: $6,180,000.00
- Buyer: WTI Inc.
- Seller: Jedco LLC
- Buyer's Representative: Lisa Ferraro & Dana Forbes - Daniel Gale Sotheby’s International Realty
- Seller's Representative: Lisa Ferraro & Dana Forbes - Daniel Gale Sotheby’s International Realty
WTI Inc. is a California private equity firm that has purchased this property, marking its first entry into the hospitality sector. The sellers of the property are Jedco LLC, represented by Leslie and Jed Feldman. The transaction closed last month.
On the Map
$6,180,000
Mixed-use
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Players
Amagansett Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.57%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93