IRA Capital Acquires Manhasset Office Building For $18.15M
1155 Northern Blvd, Manhasset, NY 11030, USA
$18,150,000
$43/SF
Building Size
415,000 SF
Asset Type
Office
Closing
Jun 9, 2020
About this deal
AI
The office building located at 1155 Northern Blvd in Manhasset, Nassau County has been sold in a transaction. The property spans 41,500 square feet and was sold for a price of $18,150,000, resulting in a price per square foot of $437. Jourdan Krauss was the seller, while the buyer was IRA Capital represented by Amer F. Kasm and Amer H. Malas.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,150,000
- Square Footage: 41,500
- Price per Square Foot: $437
- Address: 1155 Northern Blvd
- Market: Manhasset, Nassau County
The deal was facilitated by brokers Stephen R. Preuss, Kevin Schmitz, and Kevin Louie from Team Preuss at CushWake.
On the Map
$18,150,000
$43/SF
Office
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Players
Manhasset Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93