Craig Johnson Acquires Office Building In Melville For $7.2M
25 Melville Park Rd, Melville, NY 11747, USA
Building Size
6,679 SF
Asset Type
Office
Closing
Nov 1, 2017
AI
The office building located at 25 Melville Road in New York was recently sold for a price of $7,200,000. The property, situated in the Melville market, has unique characteristics that make it an attractive asset.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $7,200,000
- Address: 25 Melville Road, New York
- Seller: Philips International
- Buyer: Craig Johnson
- Broker: Capital Property Partners - Daniel Rahmani @cppreofficial
The sale of this office building was facilitated by Capital Property Partners, with Daniel Rahmani representing the buyer, Craig Johnson. The transaction involved Philips International as the seller. This deal showcases the ongoing activity in the Melville market, with a notable transaction amount of $7,200,000.
Players
Melville 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93