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25 Melville Park Rd, Melvil...

Craig Johnson Acquires Office Building In Melville For $7.2M
SOLDOffice

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

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

Daniel Rahmani

Capital Property Partners

Broker

$184.9M

vol

12 deals

Broker
PI
Phillips InternationalSeller

Melville Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

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