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177 Atlantic Avenue

Jed Bonnem Acquires Package Deal In Long Island With Buyer's Rep Kenneth Hochhauser & Evans Cyprus
SOLDPackage Deal

Jed Bonnem Acquires Package Deal In Long Island With Buyer's Rep Kenneth Hochhauser & Evans Cyprus

177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue & 1230 Grand Avenue

$9,015,000

$186/SF

Building Size

48,290 SF

Asset Type

Package Deal

Closing

Aug 29, 2024

AI

A package deal transaction involving multiple properties took place, encompassing addresses such as 177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue, and 1230 Grand Avenue. The total square footage of the properties is 4,829 and the market includes Freeport, Baldwin, Long Island, East Meadow, Franklin Square, Hewlett, Lynbrook, Oceanside, and Glen Cove.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: Not specified
  • Addresses: 177 Atlantic Avenue, 870 Atlantic Avenue, 2020 Jericho Turnpike, 2805 North Jerusalem Road, 144 Franklin Avenue, 1600 Broadway, 241 Hempstead Avenue, 2735 Oceanside Road, 94 Forest Avenue, 1230 Grand Avenue
  • Market: Freeport, Baldwin, Long Island, East Meadow, Franklin Square, Hewlett, Lynbrook, Oceanside, Glen Cove
  • Total Square Footage: 4,829
  • Buyer: Jed Bonnem
  • Buyer's Representative: Kenneth Hochhauser & Evans Cyprus - Winick Realty Group

Jed Bonnem represented the buyer in this transaction, with Kenneth Hochhauser & Evans Cyprus from the Winick Realty Group acting as the buyer's representative. The involvement of these parties highlights their roles in facilitating the deal within the described properties and market locations.

Players

Kenneth Hochhauser

RTL Real Estate

Broker

$9M

vol

4 deals

Broker

Freeport Package Deal Market Snapshot

Boundary boundary · Package Deal · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93