Spring Creek SNF Realty Acquires Nursing Home In East New York For $40.4M
SOLD
$40,400,000
New York
See Similar DealsOther125,836 SF
Sold 07/25/2022
SOLD
Spring Creek SNF Realty Acquires Nursing Home In East New York For $40.4M
660 Louisiana Avenue, Brooklyn, New York 11239, United States
See Similar DealsOther125,836 SF
Sold 07/25/2022
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$321
Total Square Footage:125,836 SF
Transaction Type:Sale
A nursing home located at 660 Louisiana Avenue in East New York has been sold for $40,400,000. The transaction took place on July 25, 2022. The property is owned by Marx Development Group and was purchased by Spring Creek SNF Realty. The buyer's representative in the deal was Benjamin Landa.
Summary of transaction details:
- Property Type: Nursing Home
- Transaction Amount: $40,400,000
- Date: July 25, 2022
- Address: 660 Louisiana Avenue
- Market: East New York
- Buyer: Spring Creek SNF Realty - Benjamin Landa
- Seller: Marx Development Group
- Image: David Marx
David Marx captured an image of the nursing home, which was not disclosed in the original post.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,532.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,516.61
Annual Debt Service$2,298,199.33
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