Dylan Eckardt Sells Mixed-Use Property In Montauk For $1M
SOLD
$1,000,000
New York
See Similar DealsMixed-use2,000 SF
Sold 05/09/2021
SOLD
Dylan Eckardt Sells Mixed-Use Property In Montauk For $1M
45 South Euclid Avenue, Montauk, NY, USA
See Similar DealsMixed-use2,000 SF
Sold 05/09/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$500
Total Square Footage:2,000 SF
Transaction Type:Sale
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.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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