Phillip Rafiy Acquires Office From Michael Levin, Esq. For $7.5M In Westbury
SOLD
$7,500,000
New York
See Similar DealsOffice53,000 SF
Sold 06/18/2024
SOLD
Phillip Rafiy Acquires Office From Michael Levin, Esq. For $7.5M In Westbury
265 Post Avenue
See Similar DealsOffice53,000 SF
Sold 06/18/2024
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$141
Total Square Footage:53,000 SF
Transaction Type:Sale
The office property located at 265 Post Avenue in Westbury was sold for $7,500,000. The asset spans 53,000 square feet, resulting in a price per square foot of $142.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,500,000
- Buyer: Phillip Rafiy
- Seller: Michael Levin, Esq.
- Brokers: Michael Rosenfeld & Maxx Rochlin - The Rochlin Organization
- Address: 265 Post Avenue
- Market: Westbury
The deal was facilitated by brokers Michael Rosenfeld and Maxx Rochlin from The Rochlin Organization, exemplifying their expertise in navigating significant transactions within the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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