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
Brentwood Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
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