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60 Hempstead Avenue, West H...

Excel Capital Corp. Acquires Office Property On Hempstead Ave In Central Nassau County For $5.55M
SOLDOffice

Excel Capital Corp. Acquires Office Property On Hempstead Ave In Central Nassau County For $5.55M

60 Hempstead Avenue, West Hempstead, New York 11552, United States

$5,550,000

$67/SF

Building Size

82,000 SF

Asset Type

Office

Closing

Dec 8, 2021

AI

An office property located at 60 Hempstead Avenue in Central Nassau County has been sold for a total of $5,550,000. The property spans an area of 82,000 square feet, resulting in a price per square foot of $67. The transaction took place on December 8, 2021. The buyer in this sale was Excel Capital Corp., represented by Nancy Bokhour. The seller was Lighthouse Real Estate Ventures Inc., represented by Paul Cooper. The brokers involved in the deal were Adam Rochlin, Michael Levenstein, Michael Rosenfeld, and Maxx Rochlin of The Rochlin Organization, along with Lawrence Smoler of Two Bridges Capital Partners.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $5,550,000
  • Address: 60 Hempstead Avenue
  • Market: Central Nassau County

The sale of the office property at 60 Hempstead Avenue was facilitated by Adam Rochlin, Michael Levenstein, Michael Rosenfeld, and Maxx Rochlin of The Rochlin Organization, in collaboration with Lawrence Smoler of Two Bridges Capital Partners. Nancy Bokhour represented the buyer, Excel Capital Corp., while Paul Cooper represented the seller, Lighthouse Real Estate Ventures Inc.

Players

Adam Rochlin

The Rochlin Organization

Broker

$94.9M

vol

7 deals

Broker
Paul Cooper

Paul Cooper

Seller

$315.5M

vol

4 deals

Seller

West Hempstead 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

2.86%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93