RH Real Estate Acquires Kings Park Industrial Property On Meadow Road West
125 Meadow Road West
$3,250,000
$1,444/SF
Building Size
2,250 SF
Asset Type
MultiFamily
Closing
Feb 8, 2023
AI
The industrial property located at 125 Meadow Road West in Kings Park has been sold for $3,250,000. The asset encompasses a total area of 2,250 square feet and is situated on a 2-acre parcel of land.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,250,000
- Address: 125 Meadow Road West
- Market: Kings Park
- Buyer: Ronald Stern – RHS Realty Group
- Seller: AHJ Associates - Mark Shapiro
- Brokers: David Schechtman, Brian Gladstone - Meridian Capital Group; & Jonathan Schwartz - Fairview Property Group
The brokers involved in the transaction include David Schechtman and Brian Gladstone from Meridian Capital Group, alongside Jonathan Schwartz from Fairview Property Group, representing both the buyer and seller throughout the deal.
Players
Town of Smithtown MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93