Douglas Elliman Commercial Brokers Sell Long Island Office For $1.25M
1220 Wantagh Avenue, Wantagh, NY, USA
$1,250,000
$286/SF
Building Size
4,366 SF
Asset Type
Office
Closing
Aug 25, 2021
AI
Located at 1220 Wantagh Avenue in the Long Island market, this office property was recently sold in a closed transaction. The deal was facilitated by Chris Pesce and Ken Hester of Douglas Elliman Commercial. The property spans 4,366 square feet and was sold for $1,250,000. This translates to a price per square foot of $286.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,250,000
- Address: 1220 Wantagh Avenue
- Market: Long Island
Chris Pesce and Ken Hester, representing Douglas Elliman Commercial, were the brokers involved in this transaction. They can be reached at the following contact numbers:
- Chris Pesce: 516-557-5686
- Ken Hester: 516-641-0342
This property achieved one of the highest price per square foot values for office spaces in the area, according to the brokers. The sale showcases the strong demand and value in the Long Island office market.
Players
Wantagh Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93