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

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SOLD
$9,015,000

New York

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Package Deal48,290 SF
Sold 08/29/2024
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SOLD

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

See Similar Deals
Package Deal48,290 SF
Sold 08/29/2024
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Summary

NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$186
Total Square Footage:48,290 SF
Transaction Type:Sale

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
4 deals$9M volume(212) 792-2605
BROKER

Evans Cyprus
RTL Real Estate
1 deal$9M volume(212) 792-2608
BROKER

Details

SOLD
IMAGE: Kenneth Hochhauser & Evans Cyprus DATE: 08/29/2024 ADDRESS: 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 ASSET TYPE: Package Deal ~ SF: 4,829 BUYER: Jed Bonnem BUYER'S REP: Kenneth Hochhauser & Evans Cyprus (@EvansCyprus) - Winick Realty Group (@WinickRealty)

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$480,799.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,028.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,735.70
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