Michael Khodadadian Acquires Manhasset Office Building For $6.1M From Seller Mona Family
333 East Shore Road
$6,100,000
$343/SF
Building Size
17,763 SF
Asset Type
Office
Closing
Nov 30, 2022
About this deal
AI
The office property located at 333 E Shore Rd in Manhasset, Long Island has been sold in a closed transaction. The sale was completed on November 30, 2022. The office building spans a total area of 17,763 square feet and was sold for a price of $6,100,000, resulting in a price per square foot of $343. The property is situated in the Manhasset market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,100,000
- Address: 333 E Shore Rd, Manhasset, Long Island
- Market: Manhasset
- Size: 17,763 square feet
- Price per Square Foot: $343
The buyer of the property is Michael Khodadadian, while the seller is Mona Family. The transaction was facilitated by the brokers Stephen R. Preuss Sr., Kevin Louie, Kevin Schmitz, and Andreas Efthymiou from Ripco Investment Sales. Their expertise and representation were crucial in bringing the deal to fruition.
Players
Manhasset 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
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93