Castle Lanterra Acquires Mixed-Use Property In Long Island For $138M
SOLD
$138,000,000
New York
See Similar DealsMixed-use
Sold 09/02/2021
SOLD
Castle Lanterra Acquires Mixed-Use Property In Long Island For $138M
303 Main Street, Hempstead, NY, USA
See Similar DealsMixed-use
Sold 09/02/2021
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Sale
The mixed-use property located at 303 Main Street & 130 Hempstead Avenue in Long Island has been sold for approximately $138,000,000. The transaction took place on 09/02/2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $138,000,000 (approx.)
- Units: 316
- Price per unit (PPU): $436,708 (approx.)
- Market: Long Island
The buyer, Castle Lanterra, represented by Elie Rieder, acquired the property from UBS Realty Investors. Castle Lanterra is a noteworthy player in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$490,284.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$654,190.40
Annual Debt Service$7,850,284.85
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