Carillo Family Acquires Office Building In Oceanside, Long Island For $11M
2860 Long Beach Road, Oceanside, New York 11572, United States
$11,000,000
$745/SF
Building Size
14,753 SF
Asset Type
Office
Closing
Jun 28, 2022
About this deal
AI
An office property located at 2860 Long Beach Rd. in Oceanside, Long Island has been sold for $11,000,000. The property spans 14,753 square feet and was sold at a price per square foot of $746. The transaction took place on June 29, 2022. The property is situated in the Oceanside market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $11,000,000
- Square Feet: 14,753
- Price per Square Foot: $746
- Market: Oceanside, Long Island
The buyer of the property is the Carillo Family, while the seller is Basser Kaufman. Representing the seller in the deal were Stephen R. Preuss Sr., Kevin Schmitz, Andreas Efthymiou, and Kevin Louie from Ripco Investment Sales. The sale represents a 4.67% capitalization rate.
Players
Oceanside 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93