The W Group Acquires Assisted Living Facility In Oyster Bay, Long Island For $37M
150 South Street, Oyster Bay, NY, USA
$37,000,000
$522/SF
Building Size
70,819 SF
Asset Type
Other
Closing
Oct 20, 2021
AI
The W Group, represented by Ari Weiss and Berry Weiss, has acquired Oyster Bay Manor and Harbor House, an Assisted Living Facility located at 150 South St. in Oyster Bay, Long Island. The purchase price for the property was $37,000,000, with the transaction facilitated by Valley National Bank. The facility spans 70,819 square feet, resulting in a price per square foot of $522.
Summary of transaction details
- Property Type: Assisted Living Facility
- Transaction Amount: $37,000,000
- Address: 150 South St., Oyster Bay, Long Island
- Market: Oyster Bay, Long Island
The W Group, led by Ari Weiss and Berry Weiss, is the largest Assisted Living Group in New York State. Their recent acquisition of Oyster Bay Manor and Harbor House highlights their commitment to the assisted living sector in Long Island.
Players
Oyster Bay Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93