David Lasky And Josh Lasky's IVY Property Management Acquires Post Office Property In Merrick, Long Island
2040 Merrick Rd, Merrick, NY 11566, USA
$5,100,000
$474/SF
Building Size
10,742 SF
Asset Type
Office
Closing
Aug 12, 2019
About this deal
AI
Located at 2040 Merrick Road in Merrick, Long Island, this post office property was recently sold in a closed transaction. The property spans 10,742 square feet and was sold at a price of $5,100,000, with an asking price of $5,500,000. The price per square foot for this transaction was $474. The property generates a gross income of $265,000.
Summary of transaction details:
- Property Type: Post Office
- Transaction Amount: $5,100,000
- Address: 2040 Merrick Road, Merrick, Long Island
- Market: Merrick, Long Island
- Seller: Jack Biondo
- Buyer: David Lasky, Josh Lasky - IVY Property Management
- Brokers: Asher Wenig, James Nelson, Jim Kinsey
The buyer in this transaction is David Lasky, along with Josh Lasky, who represent IVY Property Management. The brokers involved in the deal are Asher Wenig, James Nelson, and Jim Kinsey.
On the Map
$5,100,000
$474/SF
Office
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Players
Merrick 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
3.11%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93