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1220 Wantagh Avenue, Wantag...

Douglas Elliman Commercial Brokers Sell Long Island Office For $1.25M
SOLDOffice

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

Christopher Pesce

Douglas Elliman

Broker

$15.1M

vol

7 deals

Broker

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