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907 Northern Boulevard, New...

Jeff Levine Acquires Great Neck Office Building For $13M From Seller Wharton Properties
SOLDOffice

Jeff Levine Acquires Great Neck Office Building For $13M From Seller Wharton Properties

907 Northern Boulevard, New York 11030, United States

$13,000,000

$1,331/SF

Building Size

9,763 SF

Asset Type

Office

Closing

Apr 5, 2022

AI

An office property located at 907 Northern Blvd in Great Neck has been recently sold for a price of $13,000,000. The property spans a total area of 9,763 square feet, resulting in a price per square foot of $1,331. The transaction took place on April 6, 2022.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13,000,000
  • Address: 907 Northern Blvd
  • Market: Great Neck
  • Buyer: Jeff Levine
  • Seller: Wharton Properties - Jeff Sutton
  • Buyer's Representative: David Leibowitz - Investment Real Estate Associates
  • Seller's Representatives: Jordan Sutton, Chris Sheldon, and Robert Shapiro - Cushman & Wakefield
  • Square Footage: 9,763
  • Price per Square Foot: $1,331

Jeff Levine was the buyer in this transaction, while Wharton Properties represented by Jeff Sutton acted as the seller. David Leibowitz from Investment Real Estate Associates served as the buyer's representative, and the seller was represented by Jordan Sutton, Chris Sheldon, and Robert Shapiro from Cushman & Wakefield. These individuals and companies played key roles in facilitating the deal.

Players

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker

Jeff Levine

Douglaston Development

Buyer

$116.9M

vol

4 deals

Buyer
Jeff Sutton

Jeff Sutton

Wharton Properties

Seller

$5.5B

vol

56 deals

Seller

Great Neck 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

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93