Northwind Group Acquires Multifamily Property In Southampton For $10.6 Million With Brokers Jeff Sztorc Hal Zwick Sean Deery
SOLD
$10,600,000
New York
See Similar DealsMultiFamily20,000 SF
Sold 05/02/2025
SOLD
Northwind Group Acquires Multifamily Property In Southampton For $10.6 Million With Brokers Jeff Sztorc Hal Zwick Sean Deery
County Road #39a
See Similar DealsMultiFamily20,000 SF
Sold 05/02/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$530
Total Square Footage:20,000 SF
Transaction Type:Sale
The sale involved a multifamily property located at 929 & 933 County Road 39 in Southampton, NY. The asset was sold for $10,600,000 and comprises 24 units across a total area of 20,000 square feet, translating to a price per unit of $441,666 and a price per square foot of $530.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,600,000
- Address: 929 & 933 County Road 39
- Market: Southampton, NY
- Units: 24
- Square Feet: 20,000
- Price Per Unit: $441,666
- Price Per Square Foot: $530
- Buyer: Northwind Group
- Seller: Sandstrom Enterprises
- Broker Representatives: Jeff Sztorc, Hal Zwick & Sean Deery - Compass
The transaction was facilitated by The Hamptons Commercial Real Estate Team at Compass, highlighting the significance of this legacy multi-family property which was owned by a local family for decades, situated on nearly ten acres with views of Shinnecock Bay.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$565,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$37,659.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$50,249.41
Annual Debt Service$602,992.89
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