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25 Weaver Dr, Massapequa, N...

Updated Oct 28, 2024

Fairfield Properties Acquires Long Island Multifamily For $108M
SOLDMultiFamily

Fairfield Properties Acquires Long Island Multifamily For $108M

25 Weaver Dr, Massapequa, New York, USA

$108,000,000

$510/SF

Building Size

211,694 SF

Asset Type

MultiFamily

Closing

Dec 8, 2021

About this deal

AI

The Multifamily property located at 25 Weaver Dr. in Long Island has been sold in a transaction. The buyer, Fairfield Properties, acquired the property from the seller, JRK Property Holdings, for a sale price of $108,000,000. The property comprises a total of 214 units, with an average price per unit (PPU) of $504,672. The total square footage of the property is 211,694, with a price per square foot (PPSF) of $510.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $108,000,000
  • Units: 214
  • Price Per Unit (PPU): $504,672
  • Square Footage (SF): 211,694
  • Price Per Square Foot (PPSF): $510
  • Market: Long Island

The deal was facilitated by brokers Steve Simonelli, Jose Cruz, Michael Oliver, Kevin O'Hearn, Andrew Scandalios, and Josh Stein from JLL, who represented both the buyer, Fairfield Properties, and the seller, JRK Property Holdings. Their expertise and assistance helped finalize the transaction.

On the Map

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$108,000,000

$510/SF

MultiFamily

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Players

Andrew Scandalios

JLL

Broker

$12.2B

vol

69 deals

Broker
Fairfield Properties
Fairfield PropertiesBuyer
JRK Property Holdings
JRK Property HoldingsSeller
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Massapequa MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $510 per square foot on a published $108M for 211,694 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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