Michael Ambrosino Acquires Office Building In Mineola For $4.17M
155 1st St, Mineola, NY 11501, USA
$4,170,000
$208/SF
Building Size
20,000 SF
Asset Type
Office
Closing
Jul 29, 2019
About this deal
AI
Located at 155 First Street in Mineola, this office property was recently sold in a closed transaction. The property spans a total of 20,000 square feet and was sold for a price of $4,170,000, slightly below the asking price of $4,200,000. The transaction was an off-market deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,170,000
- Address: 155 First Street, Mineola
- Market: Mineola
The seller of the property was Koeppel Martone and Leistman, represented by Donald Leistman. The buyer was Michael Ambrosino, who was represented by Chip Entwistle from ACC Space.
Ambrosino Consultant Corporation and its affiliate companies were involved in the transaction. Additional information about the deal was not provided.
Players
Mineola 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
3.80%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93