Cosentino Development Group Acquires Office Asset In Woodbury From CLK Properties For $5M
240 Crossways Park Drive
$5,000,000
$191/SF
Building Size
26,094 SF
Asset Type
Office
Closing
Nov 6, 2024
About this deal
AI
The property asset involved in this transaction is located at 240 Crossways Park Drive West in Woodbury and is classified as an office space. The sale price for the property was $5,000,000, encompassing a total area of 26,094 square feet, resulting in a price per square foot of $191.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,000,000
- Buyer: Cosentino Development Group
- Seller: CLK Properties
- Lender: First National Bank of Long Island
- Loan Amount: $2,000,000
- Loan Type: Acquisition
- Brokers for Sale: Thomas Donovan & Tommy Lin - Meridian Capital Group
- Brokers for Loan: Matt Buggenhagen & Jason Labriola - Meridian Capital Group
Meridian Capital Group was responsible for securing the financing and brokering the sale of this property, highlighting the involvement of the same brokerage in both aspects of the transaction.
On the Map
$5,000,000
$191/SF
Office
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Property Record
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Players
Woodbury 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93