Dylan Eckardt Sells Mixed-Use Property In Montauk For $1M
45 South Euclid Avenue, Montauk, NY, USA
$1,000,000
$500/SF
Building Size
2,000 SF
Asset Type
Mixed-use
Closing
May 8, 2021
About this deal
AI
Prince of Montauk, Dylan Eckardt, has successfully sold a mixed-use development site in Montauk. The property is located at 45 S. Euclid Avenue in the Montauk market.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: SALE PRICE: $1,000,000
- Asking Price: $950,000
- BSF: 2,000
- PPBSF: $500
- BROKER: Dylan Eckardt - Nestseekers
The property was sold for $1,000,000, which is $50,000 above the asking price of $950,000. The building has a total square footage of 2,000, with a price per square foot (PPBSF) of $500.
Dylan Eckardt, the Prince of Montauk, successfully sold the development site within 6 hours of signing an exclusive agreement. The quick sale indicates strong demand for the property in the Montauk market.
Montauk 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93