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55 2nd Avenue

Luke Ferrel Acquires Medical Office Building In Suffolk County For $5.3M With NY Space Finders As Buyer's Rep
SOLDOffice

Luke Ferrel Acquires Medical Office Building In Suffolk County For $5.3M With NY Space Finders As Buyer's Rep

55 2nd Avenue

$5,300,000

$353/SF

Building Size

15,000 SF

Asset Type

Office

Closing

Nov 10, 2025

AI

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.

Players

Luca DiCiero

NY Space Finders

Broker

$124.3M

vol

151 deals

Broker

Brentwood 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

2.99%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93