WTI Inc. Purchases Property From Jedco LLC In East Hampton For $6.18 Million
SOLD
$6,180,000
New York
See Similar DealsMixed-use
SOLD
WTI Inc. Purchases Property From Jedco LLC In East Hampton For $6.18 Million
273 Main St, East Hampton, NY, 11937
See Similar DealsMixed-use
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
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.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$329,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,956.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,296.35
Annual Debt Service$351,556.23
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