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Maxima Realty Barclay Acquires Office Building In Westbury, Long Island For $16M

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SOLD
$16,000,000

New York

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Office1,000,000 SF
Sold 09/16/2022
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Property Image
SOLD

Maxima Realty Barclay Acquires Office Building In Westbury, Long Island For $16M

615 Merrick Avenue Westbury

See Similar Deals
Office1,000,000 SF
Sold 09/16/2022
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Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$16
Total Square Footage:1,000,000 SF
Transaction Type:Sale

An office property located at 615 Merrick Avenue in Westbury, Long Island has been sold for a transaction amount of $16,000,000. The property spans 1,000,000 square feet, resulting in a price per square foot of $16. The sale was facilitated by brokers Matthew Kucker and Jordan Baruch from Colliers. The buyer, Maxima Realty Barclay, was represented by Michael Sultan, while the seller was Milvado Realty Group.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $16,000,000
  • Address: 615 Merrick Avenue, Westbury, Long Island
  • Square Footage: 1,000,000 SF
  • Price per Square Foot: $16
  • Buyer: Maxima Realty Barclay - Michael Sultan
  • Seller: Milvado Realty Group
  • Brokers: Matthew Kucker & Jordan Baruch - Colliers

The Maxima Realty Barclay team, led by Michael Sultan, played a crucial role in acquiring the office property at 615 Merrick Avenue in Westbury. On the other side of the deal, Milvado Realty Group served as the seller. Brokers Matthew Kucker and Jordan Baruch represented both parties, ensuring a successful transaction.

Players

Matthew Kucker
7 deals$35M volume
BROKER

Jordan Baruch
Colliers
7 deals$35M volume
BROKER

Details

SOLD
IMAGE: Matthew Kucker, Rubin Schron & Jordan Baruch DATE: 09/16/2022 ADDRESS: 615 Merrick Avenue MARKET: Westbury, Long Island ASSET TYPE: Office BUYER: Maxima Realty Barclay - Michael Sultan SELLER: Milvado Realty Group BROKERS: Matthew Kucker (@NewYorkCommercial) & Jordan Baruch - Colliers SALE PRICE: $16,000,000 SF: 1,000,000 ~ PPSF: $16

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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