Luke Ferrel Acquires Medical Office Building In Suffolk County For $5.3M With NY Space Finders As Buyer's Rep
SOLD
$5,300,000
New York
See Similar DealsOffice15,000 SF
Sold 11/11/2025
SOLD
Luke Ferrel Acquires Medical Office Building In Suffolk County For $5.3M With NY Space Finders As Buyer's Rep
55 2nd Avenue
See Similar DealsOffice15,000 SF
Sold 11/11/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$353
Total Square Footage:15,000 SF
Transaction Type:Sale
The property involved in the transaction is a medical office building located at 55 2nd Avenue in the Suffolk County Market. The asset consists of 15,000 square feet and was sold for $5,300,000, resulting in a price per square foot of $354.
Summary of transaction details:
- Property Type: Medical Office Building
- Transaction Amount: $5,300,000
- Address: 55 2nd Avenue
- Market: Suffolk County Market
- Square Footage: 15,000
- Price per Square Foot: $354
- Buyer: Luke Ferrel
- Seller: Paolo Cappala
- Buyer's Representative: Luca DiCiero, Nicholas Evangelista & Giuseppe Gregorio - NY Space Finders
The transaction involved key representatives, with Luca DiCiero, Nicholas Evangelista, and Giuseppe Gregorio representing the buyer, Luke Ferrel. Paolo Cappala was the seller in this property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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