Michael Ambrosino Acquires Office Building In Mineola For $4.17M
SOLD
$4,170,000
New York
See Similar DealsOffice20,000 SF
Sold 07/30/2019
SOLD
Michael Ambrosino Acquires Office Building In Mineola For $4.17M
155 1st St, Mineola, NY 11501, USA
See Similar DealsOffice20,000 SF
Sold 07/30/2019
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$208
Total Square Footage:20,000 SF
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$222,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,815.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,767.93
Annual Debt Service$237,215.13
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