Michael Khodadadian Acquires Office Building In Manhasset, Long Island For $6.1M
333 E Shore Rd, Manhasset, New York 11030, United States
$6,100,000
$358,823/SF
Building Size
17 SF
Asset Type
Office
Closing
Nov 30, 2022
About this deal
AI
An office property located at 333 E Shore Rd in Manhasset, Long Island, has been sold for a total price of $6,100,000. The property offers 17,763 square feet of space, resulting in a price per square foot of $343. The transaction took place on November 30, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,100,000
- Address: 333 E Shore Rd, Manhasset, Long Island
- Market: Manhasset, Long Island
The buyer of the property is Michael Khodadadian, while the seller is the Mona Family. Representing the parties involved in the deal were Stephen R. Preuss Sr., Kevin Louie, Kevin Schmidtz, and Andreas Efthymiou from Ripco Investment Sales. They acted as the brokers in this transaction.
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